For Sale
$290,000

W2306 Wi-23Montello, WI 53949

Five-unit rental property, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional value-add investment opportunity presents a portfolio of five rental units situated on a spacious 1.09-acre lot in Montello, Wisconsin. The property comprises three buildings: a three-unit stick-built structure on a slab foundation and two mobile homes, all situated on a single lot. Built in 1980, the property offers a total of 5,114 square feet of net rentable space, currently boasting a 60% occupancy rate. The current Net Operating Income (NOI) stands at $30,000, yielding a 10.34% capitalization rate. However, with strategic upgrades and improved management, a significant increase in profitability is projected, with a pro-forma NOI of $39,200 and a pro-forma cap rate of 13.52%. The asking price is $290,000, translating to $58,000 per unit. The property is zoned residential and presents a compelling opportunity for investors seeking immediate cash flow and long-term appreciation. This is a rare chance to acquire a multifamily portfolio in a peaceful rural setting with substantial upside potential. The property's location in Marquette County, Wisconsin, offers a blend of tranquility and accessibility. This is a Class C property with significant value-add potential for the right investor.

Highlights

  • Exceptional Value-Add Opportunity.
  • Prime Location with High Growth Potential.
  • Strong Tenant Roster Providing Stable Income.
  • Significant Upside Through Lease-Up and Rent Increases.
  • Below-Market Cap Rates Present Attractive Returns.

Property Details for W2306 Wi-23

Property type
Residential income homes
Square Feet
5,114 SF
Class
C
Year Built
1980
Buildings
3
Stories
1
Lot Size (sq. ft)
47,480 SF
Units
5

Location Insight

City
Montello
County
Marquette
State
Wisconsin
Latitude
43.8131476
Longitude
-89.2770659
W2306 Wi-23, Montello, Wisconsin

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W2306 Wi-23
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