Douglas Terrace | 3538 Douglas Ave
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Douglas Terrace 3538 Douglas Ave
202 Unit Apartment Building $24,500,000 ($121,287/Unit) 6.22% Cap Rate Racine, WI 53402
Investment Highlights
- Eight Buildings Feature 15 Distinct Floor Plans
- Amenities Include a Brand-New Pool, Sundeck, and Dog Park
- 42 Remodeled Units; 160 Units Present Value Add Opportunity
Data Room Click Here to Access
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $24,500,000 | Apartment Style | Garden |
| Price Per Unit | $121,287 | Building Class | C |
| Sale Type | Investment | Lot Size | 6.75 AC |
| Cap Rate | 6.22% | Building Size | 223,206 SF |
| Gross Rent Multiplier | 9.49 | Average Occupancy | 97% |
| No. Units | 202 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1966/1995 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Price | $24,500,000 |
| Price Per Unit | $121,287 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 9.49 |
| No. Units | 202 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.75 AC |
| Building Size | 223,206 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/1995 |
| Parking Ratio | 1.39/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Patio
Site Amenities
- Playground
- Pool
- Property Manager on Site
- Package Service
- Pet Play Area
- Storage Space
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | $960.50 | 450 |
| 1+1 | 110 | $1,090 | 676 - 865 |
| 2+1 | 64 | $1,153 | 779 - 993 |
| 2+2 | 4 | $1,235 | 1,144 - 1,400 |
| 3+2 | 16 | $1,433 | 1,185 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $11,946,500 (2023) | |
| Land Assessment | $801,800 (2023) | Total Assessment | $12,748,300 (2023) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$801,800 (2023)
Improvements Assessment
$11,946,500 (2023)
Total Assessment
$12,748,300 (2023)
zoning
| Zoning Code | R5 |
| R5 |
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Douglas Terrace | 3538 Douglas Ave
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