Grandview Pines | 1021 Grandview Ave
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Grandview Pines 1021 Grandview Ave
6 Unit Apartment Building $1,825,000 ($304,167/Unit) 6.70% Cap Rate Tomah, WI 54660
Investment Highlights
- Pristine 16-unit with 16 garages
Executive Summary
Fantastic value-add opportunity to own this turnkey 16-unit with 16 garages. Incredibly well-kept and managed properties. (5) 1BR units, (9) 2BR units, (2) 3BR units, 16 garages rented at $65/garage. 6 coin-op washers and dryers. Four of the 2BRs have private laundry rooms. New roofs on building and garages. Seller expenses only at 20% due to self-managing. Assuming 35% expenses and increasing to market rents, property nearly an 8% cap! Market rents 100% occupied show $18,430/mo in gross rents.
Seller financing/Owner financing on 1022 Grandview also available! With full-price offer for 1021 Grandview seller would also lease-option 16-unit at 1022 Grandview(8 garages) at an option price of $1,675,000, $100,000 option fee and 6% interest-only for 24 months. Market rents 100% occupied show $16,500/mo in gross rents.
Seller financing/Owner financing on 1022 Grandview also available! With full-price offer for 1021 Grandview seller would also lease-option 16-unit at 1022 Grandview(8 garages) at an option price of $1,675,000, $100,000 option fee and 6% interest-only for 24 months. Market rents 100% occupied show $16,500/mo in gross rents.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$186,000
|
$2.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$186,000
|
$2.26
|
| Taxes |
$20,827
|
$0.25
|
| Operating Expenses |
$44,273
|
$0.54
|
| Total Expenses |
$65,100
|
$0.79
|
| Net Operating Income |
$120,900
|
$1.47
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $186,000 |
| Annual Per SF | $2.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $186,000 |
| Annual Per SF | $2.26 |
| Taxes | |
|---|---|
| Annual | $20,827 |
| Annual Per SF | $0.25 |
| Operating Expenses | |
|---|---|
| Annual | $44,273 |
| Annual Per SF | $0.54 |
| Total Expenses | |
|---|---|
| Annual | $65,100 |
| Annual Per SF | $0.79 |
| Net Operating Income | |
|---|---|
| Annual | $120,900 |
| Annual Per SF | $1.47 |
Property Facts
| Price | $1,825,000 | Apartment Style | Low Rise |
| Price Per Unit | $304,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.10 AC |
| Cap Rate | 6.70% | Building Size | 82,328 SF |
| Sale Conditions | Lease Option | No. Stories | 2 |
| No. Units | 6 | Year Built | 2005 |
| Property Type | Multifamily | Parking Ratio | 0.43/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,825,000 |
| Price Per Unit | $304,167 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Sale Conditions | Lease Option |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.10 AC |
| Building Size | 82,328 SF |
| No. Stories | 2 |
| Year Built | 2005 |
| Parking Ratio | 0.43/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $887.50 | 700 - 750 |
| 2+1 | 9 | $1,013 | 950 - 1,050 |
| 3+1 | 2 | $1,185 | 1,230 |
PROPERTY TAXES
| Parcel Number | 286-00639-9200 | Total Assessment | $885,000 (2023) |
| Land Assessment | $54,800 (2023) | Annual Taxes | $20,827 ($0.25/SF) |
| Improvements Assessment | $830,200 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
286-00639-9200
Land Assessment
$54,800 (2023)
Improvements Assessment
$830,200 (2023)
Total Assessment
$885,000 (2023)
Annual Taxes
$20,827 ($0.25/SF)
Tax Year
2024
zoning
| Zoning Code | COMM |
| COMM |
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Grandview Pines | 1021 Grandview Ave
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