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Property profile & analytics

1619 Fraternity Vlg Dr Kalamazoo, MI 49006-5989

  • Commercial real estate
  • 10,232 SF
  • 1.45 lot acres
OFF-MARKET
Value Estimations
$950,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US43-2434168
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Axa Lambda Tau / Volunteer Organization / Community Center

Property Details for 1619 Fraternity Vlg Dr

Lot size
1.45 lot acres
Property size
10,232 SF
Zone code
RM-15
Property type
Commercial real estate
APN
06-20-362-009
APU
620362009

Description

This exceptional investment opportunity presents a 20-unit student housing complex ideally situated in Kalamazoo, Michigan's Knollwood neighborhood, just 0.7 miles from Western Michigan University. The property comprises two three-story buildings, totaling 20 units (20 beds): a mix of studios and one-bedroom apartments. Built in 1984 and renovated in 2024, 90% of the units in one building boast new appliances and low-maintenance finishes. Currently enjoying 100% occupancy for the 2024-2025 school year, this property offers significant potential for rental increases. One building is leased by the bed with co-signed leases, while the other is under a master lease with a fraternity extending through the 2026-2027 school year, ensuring consistent revenue. The property features ample parking, a private fenced backyard with fire pits, and additional income streams from coin-operated laundry and utility bill-back. A value-add opportunity exists to complete the build-out of an unfinished three-bedroom unit. The property offers a current NOI of $98,718 and a pro-forma NOI of $134,947, resulting in a current cap rate of 6.17% and a pro-forma cap rate of 8.43%. The asking price is $1,600,000. The property is zoned RM-15.


Value Estimations

based on Realmo’s proprietary methodology
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $950,000
    Market price range: $366k - $1.03M
    AI Estimate
    $950,000
    Market price range: $366k - $1.03M

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Kalamazoo
County
Kalamazoo
State
Michigan
Longitude
-85.6267
Latitude
42.2756
CBSA code
28020
CBSA name
KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2019
$21,275
$0.00
$0.00
$404,100
-
$0.00
$0.00
$808,200
More about this property
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