KALAMAZOO, MI - Beacon Realty Group is pleased to announce the sale of Mansard House Apartments located at 220 S Kendall Ave, in Kalamazoo, Michigan. The property consists of 60 market rate Two-Bedroom units and 130 parking spaces.
The property traded for $3,700,000 or $61,667 per unit.
Beacon generated multiple offers in the first week on the market and placed the property under contract within 2 weeks of marketing. Matt Jones, President of Beacon, represented both the Buyer and the Seller in the transaction.
The Buyer was an out of state owner who was in a 1031 Exchange and wanted to diversify his holdings to Michigan. “West Michigan has been put on the map by multifamily investors and we are seeing more and more activity from Buyers located around the country here,” said Jones.
Beacon Realty Group is a Grand Rapids based multifamily brokerage firm focused exclusively on the sale of apartment properties throughout the Midwest, with a focus on West Michigan. For more information, please visit www.beaconrealtygrp.com