515 Locust Street

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Description

5 unit Investment opportunity in the Vine Neighborhood, downtown Kalamazoo. Large lot with plenty of off-street parking. Close to WMU, Kalamazoo College and central business district. Three one-bedroom apartments and two studio apartments. Newer roof. Five furnaces and one water heater were recently installed and gas meters split.5 unit Investment opportunity in the Vine Neighborhood, downtown Kalamazoo. Large lot with plenty of off-street parking. Close to WMU, Kalamazoo College and central business district. Three one-bedroom apartments and two studio apartments. Newer roof. Five furnaces and one water heater were recently installed and gas meters split.
  1. Listed by Joseph Lukeman • Lukeman Group LLC
    P: (269)-598-6567 C: (269)-598-6567 jlukeman@lukemangroup.com

Property Details for 515 Locust Street

Zoning
RM-15
ZoningDescription
RM-15
LISTING UPDATED: 05/21/2026 10:52 AM

Property Details for 515 Locust Street

StatusActive
MLS #26021664
Days on Market53
Taxes$5,980 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / 5+ Units
Year Built1860
Lot Size0.20 AC / 8,712 SF
CountyKalamazoo County

Location

Listing Courtesy of Lukeman Group LLC
Add your commute

Building Information for 515 Locust Street

Stories-Residences5Year Built1860Building Size-Lot Size0.20 AC / 8,712 SF

Payment Calculator

$1,719 per month

30 year fixed, 6.36% Interest

Principal and Interest

$1,220

Property Taxes

$498

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 515 Locust Street

Summary
Location and General Information
  • Cross Streets: Cedar and W Walnut
  • Municipality: Kalamazoo City
  • Area - Major: Kalamazoo (39022)
  • Street #: 515
  • Street Name: Locust
  • Suffix: Street
  • City: Kalamazoo
  • State: MI
  • Zip Code: 49007
  • County: Kalamazoo
  • Latitude: 42.286936
  • Longitude: -85.593075
Taxes and HOA
  • Taxable Value: 88835.0
  • Approx. Assoc Fee: $0
  • Tax ID #: 06-21-236-409
  • Homestead: 0
  • SEV: 98600
Parking
  • Parking Features: Driveway, Gravel
  • Parking Total: 5.0
  • Attached Garage: No
  • Driveway: Gravel
Virtual Tour
  • Total Virtual Tours Count: 0
  • Total Open Houses Count: 0
Property
Lot Information
  • Lot Features: Level
  • Lot Dimensions: 66x132
  • Lot Measurement: Acres
  • Lot Acres: 0.2
  • Lot Square Footage: 8712.0
  • Lot Size Area: 0.2
Property and Assessments
  • Tax Year: 2025
  • Road Surface Type: Paved
  • Legal: 50308 WELCHS ADDITION LOT 409.
  • Property Sub-Type: 5+ Units
  • New Construction: No
  • Total Floor Plans Count: 0
  • Property Type: Multi Family
  • Year Built: 1860
  • Video Groups: 0
  • Accessibility Features YN: No
Utilities
  • Utilities: Natural Gas Available, Electricity Available, Cable Available, Natural Gas Connected, Electricity Connected, Cable Connected
  • Sewer: Public Sewer, True
  • Util Avail at Street: Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Public Sewer, Public Water
  • Utilities Attached: Cable Connected, Electricity Connected, Natural Gas Connected
  • Water: Public Water
Interior and Exterior Features
Exterior Features
  • Roof: Composition
  • Construction Materials: Wood Siding
  • Street Type: Paved
  • Exterior Material: Wood Siding
  • Roofing: Composition
  • Substructure: Other
Interior Features
  • Heating: Forced Air
  • Basement: Yes
  • Basement Yes/No: Yes
  • Bathrooms Total (Integer): 0
  • Bathrooms Total (Decimal): 0.0
  • Bathrooms Total (Notational): 0.0
  • Heating: Yes
  • Heat Source: Natural Gas
  • Heat Type: Forced Air
Multi Family
Multi Family Information
  • Number of Units: 5
Unit Information
Unit 1
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • ActualRent: $450.00
  • Occupied: Yes
  • Description: New Roof
Unit 2
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • ActualRent: $700.00
  • Description: 1 bedroom
Unit 3
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • ActualRent: $835.00
  • Description: 1 bedroom
Unit 4
  • BathsTotal: 1
  • BedsTotal: 0
  • FullBaths: 1
  • HalfBaths: 0
  • ActualRent: $760.00
  • Description: Studio
Unit 5
  • BathsTotal: 1
  • BedsTotal: 1
  • FullBaths: 1
  • HalfBaths: 0
  • ActualRent: $800.00
  • Description: 1 bedroom
Rental
Rental Information
  • Occupant Type: Tenant
  • Tenant Pays: Gas
  • Owner Pays: Electricity, Sewer, Trash Collection, Water
  • Terms Available: Cash, Conventional, VA Loan

Property History for 515 Locust Street

DateEvent & SourcePriceAppreciation
May 12, 2026

Listed (Active)

MiRealSource #70531358

$244,900—
May 12, 2026

Listed (Active)

Michigan Regional Information Center #26021664

$244,900—
May 5, 2026

Temporarily Off Market

Michigan Regional Information Center #25057512

$249,900—
DateEvent & SourcePrice
05/12/2026

Listed (Active)

MiRealSource #70531358

$244,900
05/12/2026

Listed (Active)

Michigan Regional Information Center #26021664

$244,900
05/05/2026

Temporarily Off Market

Michigan Regional Information Center #25057512

$249,900

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 515 Locust Street

Taxable ValueLand-Additions-Total-
Tax Record2024$5,934 ($495 / month)
Home Facts
Beds0Total Finished SqFt2,542 SqFtAbove Grade Finished SqFt2,542 SqFtLot Size8,712 SqFtStyleSingle Family ResidenceYear Built1860ZoningRM-15CountyKALAMAZOOAPN06-21-236-409

Schools near 515 Locust Street

This home is within Kalamazoo Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 3
Rating
School
Distance
Maple Street Magnet School For The Arts
Public6 to 8

Loy Norrix High School
Public9 to 12

Indian Prairie Elementary School
PublicPK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

515 Locust Street is a multi-family home for sale in Kalamazoo, MI 49007. This property was listed for sale on May 12, 2026 by Lukeman Group LLC, it's currently listed at $244,900. It has been on the market for a total of 53 days and was last sold on December 7, 2023. This listing's school district is Kalamazoo Public Schools. Nearby schools include Woods Lake Elementary:A Magnet Center For The Arts, Maple Street Magnet School For The Arts and Loy Norrix High School. 515 Locust Street is a 4-bed, 5-bath, multi-family home built in 1860.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lukeman Group LLC

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