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Multifamily

Prairie View Apartments

1002 Monroe Street, Fort Atkinson, WI 53538

Listing Price: $3,500,000

Cap Rate
8.42%
Number of Units
40
Occupancy
100.0%
Price/Unit
$87,500
Price/Gross SF
$98.51
Gross SF
35,528

Investment Overview

Marcus & Millichap is pleased to present Prairie View Apartments in the City of Fort Atkinson, Jefferson County, Wisconsin. The property comprises a 3.4 acre parcel improved with (2) two 16-unit apartment buildings and (1) 8-unit apartment building. They were constructed in 1988-1989 and contain a total of 35,528 square feet (per assessor's records). Each building has a brick and vinyl exterior and pitched roof with dimensional shingle covering. They all have metal, slide-by combination windows. The apartment complex comprises (12) 1-Bedroom/1-Bath units, (27) 2-Bedroom/1-Bath units, and (1) 3-Bedroom/1-Bath unit. A refrigerator and stove are included (the majority of units have dishwashers). The units have electric baseboard heat. A sleeve air conditioner unit in each living room is provided. Several units have been updated/remodeled. The owner is responsible for common area electric, gas (hot water), and the water/sewer expense. The tenants pay their own electric. A laundry room (with coin-operated washer and coin-operated dryer) is located off the first floor hall of each 8-unit building section. There are approximately 40 surface parking spaces. There are 11 units leased to residents on the USDA RD (Rural Development) voucher on year-to-year leases. The remaining leases are month-to-month.

Investment Highlights

  • Low Maintenance Exteriors
  • Good Unit Mix
  • Several Updated/Remodeled Units

Exclusively Listed By

Financing By

Multifamily

Prairie View Apartments

Listing Price: $3,500,000

Cap Rate
8.42%
Number of Units
40
Occupancy
100.0%
Price/Unit
$87,500
Price/Gross SF
$98.51
Gross SF
35,528

Investment Highlights

  • Low Maintenance Exteriors
  • Good Unit Mix
  • Several Updated/Remodeled Units

Investment Overview

Marcus & Millichap is pleased to present Prairie View Apartments in the City of Fort Atkinson, Jefferson County, Wisconsin. The property comprises a 3.4 acre parcel improved with (2) two 16-unit apartment buildings and (1) 8-unit apartment building. They were constructed in 1988-1989 and contain a total of 35,528 square feet (per assessor's records). Each building has a brick and vinyl exterior and pitched roof with dimensional shingle covering. They all have metal, slide-by combination windows. The apartment complex comprises (12) 1-Bedroom/1-Bath units, (27) 2-Bedroom/1-Bath units, and (1) 3-Bedroom/1-Bath unit. A refrigerator and stove are included (the majority of units have dishwashers). The units have electric baseboard heat. A sleeve air conditioner unit in each living room is provided. Several units have been updated/remodeled. The owner is responsible for common area electric, gas (hot water), and the water/sewer expense. The tenants pay their own electric. A laundry room (with coin-operated washer and coin-operated dryer) is located off the first floor hall of each 8-unit building section. There are approximately 40 surface parking spaces. There are 11 units leased to residents on the USDA RD (Rural Development) voucher on year-to-year leases. The remaining leases are month-to-month.

Exclusively Listed By

Financing By

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