234 Prince StWhitewater, WI 53190

Property Details for 234 Prince St

Lot size

1.62 AC

Property type

Commercial real estate

APN

/A438600001

APU

A438600001

Description

This exceptional investment opportunity presents a 24-unit multifamily property ideally situated in Whitewater, Wisconsin, catering to the University of Wisconsin-Whitewater student population. The property comprises two buildings totaling 28,291 square feet, constructed in 2012. One building is a three-story structure with a concrete exterior and block foundation, while the second is a two-story house with vinyl siding and a block foundation. Roofing consists of a flat rubber membrane and pitched asphalt shingles. The 1.79-acre site includes two parcels (A438600001 and WUP00178A). The property boasts 87 beds distributed across unit types including one-bedroom, two-bedroom, three-bedroom, and four-bedroom units. Amenities include in-unit washer/dryers, a community room, a study room, and 60 parking stalls (55 surface lots at $50/month and 5 underground at $80/month). Utilities are a mix of landlord-paid (heat, hot water, water, sewer) and tenant-paid (electricity, air conditioning). Appliances include ranges, refrigerators, dishwashers, microwaves, and disposals. Patios or balconies are included with most units. The property currently enjoys a 94.25% occupancy rate, generating a Net Operating Income (NOI) of $331,380, representing a 6.69% capitalization rate. The asking price is $4,950,000, or $56,897 per unit, and $174.97 per square foot. This property offers a compelling combination of strong performance metrics and desirable student housing features in a thriving university town.

• CAP approach

  CAP return

  Valuation

  6%

  $14,440,600

  6.5%

  $13,329,800

  7%

  $12,377,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,164,190

  Geo Method

  $9,191,350

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $27,081,500

  Retail / Commercial

  $13,723,200

  Mixed-Use / Specialty

  $13,544,900

  Hospitality / Lodging

  $9,769,130

  Office

  $13,329,800

  Institutional / Educational

  $14,035,100

  Residential Income

  $16,421,000

  Multifamily

  $20,411,400

  Automotive / Energy

  $12,030,100

  Parking / Income-Based Land

  $4,279,180

  Restaurant / Food Service

  $6,768,850

  Healthcare / Senior Housing

  $14,022,700

Location Insight

City

Whitewater

County

Walworth

State

Wisconsin

Latitude

42.8377

Longitude

-88.7476

CBSA code

48580

CBSA name

WHITEWATER, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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