Two-Building Triplex-Plus
For Sale
Contact for pricing
809 W CEDAR ST, Kalamazoo, MI 49007
Two buildings on one parcel offer seven residential units with off-street parking and city-certified status.
Property Size4,400 SF
Price / SF$113.64
Days on Market152
Property Features for 809 W CEDAR ST
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Multifamily
Zoning
Res
Additional Details
Multifamily Units
7
Amenities
off-street parking
Building Details
Year Built
1927
Buildings
2
Stories
2
Units
4
Listing Agency:
Keller Williams Professionals
Listed By:
Jeff Glover · License #MI 6501317808
(734) 459-4700
Source:
Crexi
Added: May 8
Changed: Sep 29
Last Checked: Oct 5 at 4:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Professionals
Investment Insights
Based on property information with market context.
This seven-unit residential income property is set up as two buildings on one parcel, consisting of a 4-unit building and a 3-unit building. The mix of unit updates and remaining in-place opportunities creates a straightforward path for ongoing improvements as rents stabilize.
The property is located in Kalamazoo, near Western Michigan University, Kalamazoo College, and downtown. It also includes off-street parking and functional unit layouts.
The seller indicates the property is city-certified and notes that a rent roll and financials are available upon request. Additional purchase flexibility is also described in the offering, including options such as land contract terms and openness to DSCR financing buyers.
The property is located in Kalamazoo, near Western Michigan University, Kalamazoo College, and downtown. It also includes off-street parking and functional unit layouts.
The seller indicates the property is city-certified and notes that a rent roll and financials are available upon request. Additional purchase flexibility is also described in the offering, including options such as land contract terms and openness to DSCR financing buyers.
Key Highlights
- Two buildings (4‑unit and 3‑unit) on one parcel totaling 7 residential units
- Year built 1927
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,877
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,540
$517.5K
Cap Rate 7%
$369,671
$369.7K
Cap Rate 9%
$287,522
$287.5K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$39.6K $9.00/SF
− Vacancy
−$2.6K −$0.60/SF
EGI
$37.0K $8.40/SF
− OpEx
−$11.1K −$2.52/SF
NOI
$25.9K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,540
Cap Rate 7%
$369,671
Cap Rate 9%
$287,522
Alternative Uses
Best Use
Multifamily LT 5
$369.7K
$323.5K – $431.3K
NOI $25,877 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$339.5K
$297.1K – $396.1K
NOI $23,766 @ 7.0% cap · market cap 4.75%
Theoretical Best
Warehouse
$1.15M
$1.01M – $1.34M
NOI $80,597 @ 7.0% cap · market cap 16.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,806
Businesses Nearby
Explore this area
Business Placement
Demographics for 49007, MI
10,353
Population
5,102
Households
2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
2,958
Density / Sq Mi
$39,309
Median Household Income
$24,723
Median Earnings
$1,017
Median Rent
$103,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings on one parcel offer seven residential units with off-street parking and city-certified status.
Where is this multifamily property located?
The property is located at 809 W CEDAR ST Kalamazoo, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two buildings (4‑unit and 3‑unit) on one parcel totaling 7 residential units; Year built 1927; Off‑street parking
