W2306 Wi-23Montello, WI 53949

Property Details for W2306 Wi-23

Year built

1980

Lot size

1.09 AC

Property size (Sq ft)

5,114 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Montello

County

Marquette

State

Wisconsin

Latitude

43.8131

Longitude

-89.2771

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