$1,500,000
Kalamazoo, MI 49006
MLS# 25059867
8772 sqft
1 / 37
Property Description
This property has been leased to a sorority for the past 18 years and offers exceptional income potential. The residence features 16 bedrooms plus a dedicated house-mother suite, a commercial-grade kitchen, and on-site laundry facilities. Recent upgrades include a new roof and laminate flooring throughout. With its large capacity and institutional-grade amenities, this property is ideal for group housing, student living, or continued sorority/fraternity use. - See attached floor plan. Seller is a licensed Real Estate Broker in the State of Michigan.
Details
Maps
Location Property Info
County: Kalamazoo
Street #: 1500
Street Name: Fraternity Village
Suffix: Drive
State: MI
Zip Code: 49006
Zip (4): 5937
Area: Greater Kalamazoo - K
OfficeContract Info
Status: Active
Current Price: $1,500,000
List Price: $1,500,000
Listing Date: 2025-11-25
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 1.11
Lot Square Footage: 48352
Lot Dimensions: 151 x 323 x 149 x 320
Year Built: 1998
Road Frontage: 151
Total # Units: 1
# Fin Bldg Lvls: 8772
Total # Bldgs: 1
Total SqFt: 8772
Full Baths: 8
Waterfront: No
School District: Kalamazoo
Tax Info
Tax ID #: 06-20-355-017
Taxable Value: 369834
SEV: 481300
For Tax Year: 2025
Seller's Annual Property Tax: 24647
Tax Year: 2024
Spec Assessment & Type: None Known
Remarks Misc
Directions: West on W. Michigan from Howard, South on Fraternity Village Dr. to Sorority
Income and Expenses
Annual Maint ($): 5000
Annual Mgt Fees ($): 5800
Annual Prop Ins ($): 7000
Annual Utilities ($): 26000
Gross Op Income ($): 140800
Net Operating Income: 97000
Operating Expense: 43800
Property Features
Uses: Other
Business Includes: Other
Construction Type: Frame/Wood
Exterior Material: Aluminum Siding; Brick
Roofing: Composition
Below Grade: Full
Tenant Pays All: Electric; Gas; Sewer; Trash; Water
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Storm Sewer
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Paved
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional
Sale Conditions: None
Listing Office: Berkshire Hathaway HomeServices MI
Listing Agent: Dave Schnelker
Last Updated: December - 13 - 2025
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