1525 Bacon Avenue, Portage, MI 49002 (MLS# 25059801)

1525 Bacon Avenue, Portage, MI 49002

$4,495,000

Property Type: Multi Family Lot Size (sq. ft.): 428,630 Status: Active

Current Price: $4,495,000 List Date: 12/01/2025 Last Modified: 12/01/2025

Description

MOXIE Real Estate + Development is pleased to exclusively offer Lakewood Apartments for sale. This well-maintained property boasts an attractive unit mix with the majority of units already renovated, offering a blend of stability and potential for continued growth. With substantial capital improvements, the property is primed for long-term success. Key features include: renovated Units, additional revenue stream by implementing RUBS/utility bill back program and renting storage the lockers. Rents are well below market. With almost 10 acers, there is a future development opportunity, with a possibility of incentives for future expansion. Lakewood Apartments represents a solid investment opportunity with significant upside potential. For more information, please contact MOXIE.

More Information MLS# 25059801

Location & Property Info

Cross Streets: Portage Rd Property Sub-Type: 5+ Units Municipality: Portage City

Office/Contract Info

Auction or For Sale: For Sale

General Property Info

New Construction: No Lot Dimensions: na Road Frontage: 0 Cert of Compliance: No Waterfront: No Basement: No Total # Units: 48 # of Diff Unit Floor Plans: 2 Total # Bldgs: 3 Total Parking Spaces: 72 School District: Portage Lot Measurement: Acres Lot Square Footage: 428630 Lot Acres: 9.84 Year Built: 1978

Tax Info

Taxable Value: 1124600 SEV: 1124600 For Tax Year: 2024 Seller's Annual Property Tax: 76323 Tax Year: 2024 Homestead %: 0 Spec Assessment & Ty: None Zoning: RM-1 Tax ID #: 10-00027-197-O

Remarks & Misc

Public Remarks: MOXIE Real Estate + Development is pleased to exclusively offer Lakewood Apartments for sale. This well-maintained property boasts an attractive unit mix with the majority of units already renovated, offering a blend of stability and potential for continued growth. With substantial capital improvements, the property is primed for long-term success. Key features include: renovated Units, additional revenue stream by implementing RUBS/utility bill back program and renting storage the lockers. Rents are well below market. With almost 10 acers, there is a future development opportunity, with a possibility of incentives for future expansion. Lakewood Apartments represents a solid investment opportunity with significant upside potential. For more information, please contact MOXIE.

Waterfront Options

Water Access Y/N: No

Util Avail at Street

Cable Available: 1 Electricity Available: 1 High Speed Internet: 1 Natural Gas Available: 1 Phone Available: 1 Public Sewer: 1 Public Water: 1

Utilities Attached

Cable Connected: 1 Electricity Connected: 1 Natural Gas Connected: 1 Phone Connected: 1

Sewer

Public Sewer: 1

Water

Public Water: 1

Terms Available

Cash: 1 Conventional: 1

Exterior Material

Wood Siding: 1

Roofing

Composition: 1

Heat Source

Natural Gas: 1

Sale Conditions

None: 1

Heat Type

Hot Water: 1 Radiant: 1

Access Feat

Accessibility Features: No

Tenant Pays

Electric: 1

Substructure

Slab: 1

Owner Pays

Gas: 1 Trash Collection: 1 Water: 1

Unit 1

Unit Description: 1525-1 SqFt: 630 Occupied: Yes Monthly Rent: 1000 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 2

Unit Description: 1525-2 SqFt: 567 Occupied: Yes Monthly Rent: 950 Bedrooms: 1 Bathrooms: 1 Full Baths: 1

Unit 3

Unit Description: 1525-1 SqFt: 630 Occupied: Yes Monthly Rent: 1000 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 4

Unit Description: 1525-2 SqFt: 567 Occupied: Yes Monthly Rent: 950 Bedrooms: 1 Bathrooms: 1 Full Baths: 1