11405 S US Highway 53
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11405 S US Highway 53
4 Unit Apartment Building $465,000 ($116,250/Unit) 10.04% Cap Rate Solon Springs, WI 54873
Investment Highlights
- Beautifully Appointed Historic Train Depot
- Long Term responsibile tenants
Executive Summary
Price reduced.
Historic Train Depot beautifully converted to a 4 unit multi-family property.
Solid, multi year tenants, with annual market rate leases and staggered expiration dates. Leases include a Sixty day cancellation clause upon acquisition. Tenants: 18 years, 7 years, and two 1 year. Previous tenants: one passed, one moved for work, both had been tenants over 5 years.
Historic vacancies have been less than 30 days (not including renovation time)
Two of the four units meticulously updated and renovated in 2023, while maintaining historic look and feel. Please see photos.
Well maintained with a deep well (onsite/owned) with great water; city sewer, and local utilities.
Spectacular 0.2 mile walk to St Croix Lake and lakeshore park. Nearby grocery, post office, bank, laundromat, and local restaurants. Priced to sell. A must see for income investors.
Historic Train Depot beautifully converted to a 4 unit multi-family property.
Solid, multi year tenants, with annual market rate leases and staggered expiration dates. Leases include a Sixty day cancellation clause upon acquisition. Tenants: 18 years, 7 years, and two 1 year. Previous tenants: one passed, one moved for work, both had been tenants over 5 years.
Historic vacancies have been less than 30 days (not including renovation time)
Two of the four units meticulously updated and renovated in 2023, while maintaining historic look and feel. Please see photos.
Well maintained with a deep well (onsite/owned) with great water; city sewer, and local utilities.
Spectacular 0.2 mile walk to St Croix Lake and lakeshore park. Nearby grocery, post office, bank, laundromat, and local restaurants. Priced to sell. A must see for income investors.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $465,000 | Building Class | B |
| Price Per Unit | $116,250 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 3,968 SF |
| Cap Rate | 10.04% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | Parking Ratio | 1.51/1,000 SF |
| Apartment Style | Low Rise |
| Price | $465,000 |
| Price Per Unit | $116,250 |
| Sale Type | Investment |
| Cap Rate | 10.04% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 3,968 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1911 |
| Parking Ratio | 1.51/1,000 SF |
Unit Amenities
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Crown Molding
- Kitchen
- Hardwood Floors
- Oven
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 1+1 | 3 | - | - |
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PROPERTY TAXES
| Parcel Number | SS-181-00500-00 | Total Assessment | $116,000 |
| Land Assessment | $17,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $98,500 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
SS-181-00500-00
Land Assessment
$17,500
Improvements Assessment
$98,500
Total Assessment
$116,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | Commercial (Commercial) |
| Commercial (Commercial) |
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Presented by
Randall Thompson
11405 S US Highway 53
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