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Listed by Stark Company, REALTORS
$ 1,325,000
Est. payment /mo
Price Dropped by $50K
505 Alan Drive Mount Horeb, WI 53572
0.32 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality MOUNT HOREB
MLS Listing ID 2017059
Year Built 1976
Annual Tax Amount $14,286
Tax Year 2024
Lot Size 0.320 Acres
Property Description
Well-maintained 8-unit brick apartment building with additional commercially zoned land included, offering future development or expansion potential. This property presents multiple value-add and long-term upside opportunities. The building itself is fully leased with year-to-year leases in place, providing immediate and stable cash flow. Recent capital improvements include a newer roof, updated mechanical systems, and a newer coin-operated laundry system for supplemental income. Each unit features separate electric meters, helping keep operating expenses efficient and transparent. Tenants benefit from basement storage units, adding everyday functionality and desirability. The property also offers a surface outdoor parking lot for convenient tenant parking. Solid brick construction, consistent rental history, and excess commercially zoned land make this a compelling opportunity for investors seeking income today with flexibility for future growth.
Location
State WI
County Dane
Zoning R3
Rooms
Basement Full
Interior
Interior Features Water Softener
Heating Other
Cooling Radiant/Electric
Inclusions 8 Stoves, 8 Refrigerator/Freezers, 8 Air Conditioners, 1 Water Softener, 2 Coin-Operated Washers and Dryers.
Exterior
Utilities Available Separate Electric Meters
Building
Dwelling Type Apartment Building,2 Story
Story 1 - 2
Sewer Municipal Water, Municipal Sewer
Structure Type Brick
New Construction N
Schools
Elementary Schools Mount Horeb
Middle Schools Mount Horeb
High Schools Mount Horeb
School District Mount Horeb
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