Lake Country Apartments | 23920 Nyberg Rd
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Lake Country Apartments 23920 Nyberg Rd
24 Unit Apartment Building $4,500,000 ($187,500/Unit) 6.65% Cap Rate Siren, WI 54872
Investment Highlights
- New built property 2023
- Open green space
- Country setting
- Development potential exists for two additional 8 unit buildings (approved), or potentially more.
Executive Summary
Lake Country Apartments in Siren Village, Wisconsin, a brand new multifamily residential complex in an in-demand rental market ("Property"). The Property is comprised of 24 apartments within 3 buildings that are located in close proximity to one another, along with 3 garage buildings with 8 stalls each. The buildings will be sold 100% occupied, and there is very strong rental demand in this market moving forward.
Brand new (built in 2023) three-building multifamily residential complex of 24 apartments on ±5 acres of land with expansive green areas. All three buildings are fully built and 100% occupied.
Extremely high demand rental market (and State); 150+ rental applications for the first 8-unit building All units have 2 bedrooms and 1 bathroom, and each unit is approximately 782 square feet Development potential exists for two additional 8 unit buildings (approved), or potentially more.
Brand new (built in 2023) three-building multifamily residential complex of 24 apartments on ±5 acres of land with expansive green areas. All three buildings are fully built and 100% occupied.
Extremely high demand rental market (and State); 150+ rental applications for the first 8-unit building All units have 2 bedrooms and 1 bathroom, and each unit is approximately 782 square feet Development potential exists for two additional 8 unit buildings (approved), or potentially more.
Financial Summary (Pro forma - 2024) 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 (Pro forma - 2024) 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 | $4,500,000 | Building Class | B |
| Price Per Unit | $187,500 | Lot Size | 5.00 AC |
| Sale Type | Investment | Building Size | 18,756 SF |
| Cap Rate | 6.65% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Apartment Style | Low Rise | Parcel Number | 07-181-2-38-16-18-1 02-000-011600 |
| Price | $4,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.65% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 5.00 AC |
| Building Size | 18,756 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2023 |
| Parking Ratio | 1.28/1,000 SF |
| Parcel Number | 07-181-2-38-16-18-1 02-000-011600 |
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Oven
- Tub/Shower
- Carpet
- Family Room
Site Amenities
- Grill
- Wi-Fi
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | $1,200 | 782 |
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Lake Country Apartments
Lake Country Apartments | 23920 Nyberg Rd
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