Multifamily

Oakwood Apartments

4023 50th St, Kenosha, WI 53144

Listing Price: $4,200,000

Cap Rate
6.44%
Number of Units
56
GRM
8.56
Occupancy
95.0%
Price/Unit
$75,000
Price/Gross SF
$80.77
Gross SF
52,000

Investment Overview

Marcus & Millichap is pleased to present Oakwood Apartments, a 56-unit apartment property located at 4023, 4031, 4103, 4111, 4201 and 4209 50th Street and 5020 40th Avenue in Kenosha, Wisconsin. Kenosha is a city in Kenosha County, located on Lake Michigan. The subject property is positioned approximately 38 miles south of Milwaukee, Wisconsin and approximately 64 miles north of the downtown Chicago Loop, with convenient access to Routes 31, 32, 50, and Interstate 94. Public transportation is readily available at the Kenosha Metra station, located approximately two miles southeast, which services stops to both Milwaukee and Chicago. Additionally, Kenosha Transit bus stops are conveniently positioned along 52nd Street, two blocks south of the buildings. For domestic and international travel purposes, General Mitchell International Airport is approximately 28 miles north of the asset.

The property is comprised of seven eight-unit buildings. The unit mix is comprised of 24 two-bedroom / one-bathroom units and 32 two-bedroom /one and one-half-bathroom units, measuring approximately 900 and 950 square feet, respectively. The property features three new boilers, five newer central hot water heaters, two new roofs, on-site laundry facilities in each building, and ample off-street parking.

Positioned two blocks north of 52nd Street, the asset is within close proximity of numerous retail and dining options. Downtown Kenosha is approximately two miles directly east. The asset is located within a five-mile radius of several shopping centers, collectively featuring a Target, Costco, Walmart, Meijer, Walgreens, and CVS, among others. With new job opportunities on the rise in Kenosha, this investment offers an investor a well-maintained asset with prospective positive growth.

Investment Highlights

  • All Two-Bedroom Units
  • On-Site Laundry Facilities
  • Ample Off-Street Parking
  • Easy Access to Routes 31, 32, 50, and Interstate 94
  • Two Miles from Kenosha Transit Bus Stops
  • Walking Distance from PACE Bus Stops

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Regional Manager

    License(s): WI: 56163-90

    Wisconsin

Listing Price: $4,200,000

Cap Rate
6.44%
Number of Units
56
GRM
8.56
Occupancy
95.0%
Price/Unit
$75,000
Price/Gross SF
$80.77
Gross SF
52,000

Investment Highlights

  • All Two-Bedroom Units
  • On-Site Laundry Facilities
  • Ample Off-Street Parking
  • Easy Access to Routes 31, 32, 50, and Interstate 94
  • Two Miles from Kenosha Transit Bus Stops
  • Walking Distance from PACE Bus Stops

Investment Overview

Marcus & Millichap is pleased to present Oakwood Apartments, a 56-unit apartment property located at 4023, 4031, 4103, 4111, 4201 and 4209 50th Street and 5020 40th Avenue in Kenosha, Wisconsin. Kenosha is a city in Kenosha County, located on Lake Michigan. The subject property is positioned approximately 38 miles south of Milwaukee, Wisconsin and approximately 64 miles north of the downtown Chicago Loop, with convenient access to Routes 31, 32, 50, and Interstate 94. Public transportation is readily available at the Kenosha Metra station, located approximately two miles southeast, which services stops to both Milwaukee and Chicago. Additionally, Kenosha Transit bus stops are conveniently positioned along 52nd Street, two blocks south of the buildings. For domestic and international travel purposes, General Mitchell International Airport is approximately 28 miles north of the asset.

The property is comprised of seven eight-unit buildings. The unit mix is comprised of 24 two-bedroom / one-bathroom units and 32 two-bedroom /one and one-half-bathroom units, measuring approximately 900 and 950 square feet, respectively. The property features three new boilers, five newer central hot water heaters, two new roofs, on-site laundry facilities in each building, and ample off-street parking.

Positioned two blocks north of 52nd Street, the asset is within close proximity of numerous retail and dining options. Downtown Kenosha is approximately two miles directly east. The asset is located within a five-mile radius of several shopping centers, collectively featuring a Target, Costco, Walmart, Meijer, Walgreens, and CVS, among others. With new job opportunities on the rise in Kenosha, this investment offers an investor a well-maintained asset with prospective positive growth.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Regional Manager

    License(s): WI: 56163-90

    Wisconsin

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