Birchwood Apartments With Wooded
For Sale
$1,925,000
8150 E Michigan Ave, Galesburg, MI 49053
Two garden-style buildings offer renovated apartments, laundry facilities, off-street parking, and tenant-paid gas and electric.
Property Size17,500 SF
Days on Market86
Property Features for 8150 E Michigan Ave
General Information
Standard status
Active
Size
17,500 SF
Property subtype
Multifamily
Occupancy
95%
Amenities
Expansion opportunity — preliminary site plan supports 132 additional units (154 total) on the existing 10-acre site
Recent Renovations — Enhanced Long-Term Appeal with Reduced Near-Term Execution Risk
Attractive Unit Mix — Six One-Bedroom and 16 Two-Bedroom Units Across Two Well-Maintained Buildings
Building Details
Building Size
17,500 SF
Units
22
Listing Agency:
Chicago Downtown Office
Listed By:
Yianni Mouflouzelis · License #License(s): IL: 475.205207, MI: 6501455825, IA: S73371000
(312) 624-7074
Source:
Marcusmillichap
Added: Jul 22
Changed: Oct 10
Last Checked: Oct 14 at 7:34PM
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 Chicago Downtown Office
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Investment Insights
Based on property information with market context.
Birchwood Apartments is a 22-unit apartment property comprising two garden-style buildings on a 10-acre wooded parcel. Constructed in 1974, the community includes six one-bedroom, one-bathroom units and 16 two-bedroom, one-bathroom units. Recent interior renovations have been completed, while on-site laundry, off-street parking, and outdoor space serve the residents. Tenants are responsible for gas and electric utilities.
The property is located at 8150 E Michigan Ave in Galesburg, Michigan, approximately 10 miles from Kalamazoo and with immediate access to Interstate 94. The surrounding regional context includes Comstock Public Schools, Kalamazoo/Battle Creek International Airport, Chipman Preserve, and employment sectors including healthcare, advanced manufacturing, life sciences, and higher education.
The property is located at 8150 E Michigan Ave in Galesburg, Michigan, approximately 10 miles from Kalamazoo and with immediate access to Interstate 94. The surrounding regional context includes Comstock Public Schools, Kalamazoo/Battle Creek International Airport, Chipman Preserve, and employment sectors including healthcare, advanced manufacturing, life sciences, and higher education.
Key Highlights
- 22‑unit apartment community in two garden‑style buildings
- 10‑acre wooded parcel with substantial outdoor space
- Unit mix includes six one‑bedroom/one‑bathroom and 16 two‑bedroom/one‑bathroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,525
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,890,500
$1.9M
Cap Rate 7%
$1,350,357
$1.4M
Cap Rate 9%
$1,050,278
$1.1M
Market Conditions
NOI Build-Up for 17,500 SF
Gross rent
$184.8K $10.56/SF
− Vacancy
−$12.9K −$0.74/SF
EGI
$171.9K $9.82/SF
− OpEx
−$77.3K −$4.42/SF
NOI
$94.5K $5.40/SF
Area
Kalamazoo County, MI
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,890,500
Cap Rate 7%
$1,350,357
Cap Rate 9%
$1,050,278
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,525 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.58M
$4.01M – $5.34M
NOI $320,557 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 49053, MI
7,371
Population
2,919
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
95%
High-School Grad
24.4 sq mi
ZIP Area
302
Density / Sq Mi
$80,074
Median Household Income
$47,870
Median Earnings
$970
Median Rent
$222,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two garden-style buildings offer renovated apartments, laundry facilities, off-street parking, and tenant-paid gas and electric.
Where is this apartment building located?
The property is located at 8150 E Michigan Ave Galesburg, MI.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: 22‑unit apartment community in two garden‑style buildings; 10‑acre wooded parcel with substantial outdoor space; Unit mix includes six one‑bedroom/one‑bathroom and 16 two‑bedroom/one‑bathroom units
