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Student Housing

830 Union St

830 Union St, Platteville, WI 53818

Listing Price: $2,925,000

Cap Rate
6.13%
Number of Units
29
Occupancy
96.0%
Price/Unit
$100,862
Price/Gross SF
$73.94
Gross SF
39,558

Investment Overview

Marcus & Millichap is pleased to present a 29-unit student housing apartment complex in the City of Platteville, Wisconsin. Platteville is the largest city in Grant County in southwestern Wisconsin. The Pioneer Court Apartments is located at 830 Union Street. It comprises a 0.62-acre parcel improved with a 9-unit apartment building. The 3-story building was constructed in 1997 and contains 11,970 S.F. (per assessor's office). All nine units (approximately 1,200 square feet each) comprise 4 bedrooms and 2 bathrooms. There is a common area laundry room (each floor) with one washer and two dryers. The Pioneer Ridge Apartments is located at 880 Union Street. It comprises a 0.68-acre parcel improved with a 10-unit apartment building. The 2-story building was constructed in 1999 and contains 13,362 S.F. (per assessor's office). All ten units (approximately 1,200 square feet each) comprise 4 bedrooms and 2 bathrooms. Each apartment unit has a laundry area with washer and dryer provided. The Pioneer Bluff Apartments is located at 90 East Gridley Avenue. It comprises a 0.69-acre parcel improved with a 10-unit apartment building. The 2-story building was constructed in 2001 and contains 14,226 S.F. (per assessor's office). There are two units (about 700 square feet each) which comprise 2 bedrooms and 1 bath. The remaining eight units (approximately 1,200 square feet each) comprise 4 bedrooms and 2 bathrooms. Each apartment unit has a laundry area with washer and dryer provided. Each building is slab on grade with a vinyl sided exterior, pitched roof with dimensional shingle covering, aluminum soffits, downspouts, gutters and downspouts. A refrigerator, stove, dishwasher and sleeve air conditioner are included in each unit. There is adequate on-site parking on asphalt paved lots. The tenants (in all three apartment buildings) are responsible for their own electric and water/sewer. They are all located within half a mile from the University of Wisconsin-Platteville campus.

Investment Highlights

  • Less than half a mile from the University of Wisconsin - Platteville campus
  • Low maintenance exteriors (vinyl siding with aluminum fascia, soffits, gutters, and downspouts)
  • 27 of 29 units have 4 bedrooms and 2 bathrooms
  • Each unit includes a refrigerator, stove, dishwasher, and sleeve air conditioner.
  • Tenants are responsible for all utilities (including water and sewer).

Exclusively Listed By

Financing By

Listing Price: $2,925,000

Cap Rate
6.13%
Number of Units
29
Occupancy
96.0%
Price/Unit
$100,862
Price/Gross SF
$73.94
Gross SF
39,558

Investment Highlights

  • Less than half a mile from the University of Wisconsin - Platteville campus
  • Low maintenance exteriors (vinyl siding with aluminum fascia, soffits, gutters, and downspouts)
  • 27 of 29 units have 4 bedrooms and 2 bathrooms
  • Each unit includes a refrigerator, stove, dishwasher, and sleeve air conditioner.
  • Tenants are responsible for all utilities (including water and sewer).

Investment Overview

Marcus & Millichap is pleased to present a 29-unit student housing apartment complex in the City of Platteville, Wisconsin. Platteville is the largest city in Grant County in southwestern Wisconsin. The Pioneer Court Apartments is located at 830 Union Street. It comprises a 0.62-acre parcel improved with a 9-unit apartment building. The 3-story building was constructed in 1997 and contains 11,970 S.F. (per assessor's office). All nine units (approximately 1,200 square feet each) comprise 4 bedrooms and 2 bathrooms. There is a common area laundry room (each floor) with one washer and two dryers. The Pioneer Ridge Apartments is located at 880 Union Street. It comprises a 0.68-acre parcel improved with a 10-unit apartment building. The 2-story building was constructed in 1999 and contains 13,362 S.F. (per assessor's office). All ten units (approximately 1,200 square feet each) comprise 4 bedrooms and 2 bathrooms. Each apartment unit has a laundry area with washer and dryer provided. The Pioneer Bluff Apartments is located at 90 East Gridley Avenue. It comprises a 0.69-acre parcel improved with a 10-unit apartment building. The 2-story building was constructed in 2001 and contains 14,226 S.F. (per assessor's office). There are two units (about 700 square feet each) which comprise 2 bedrooms and 1 bath. The remaining eight units (approximately 1,200 square feet each) comprise 4 bedrooms and 2 bathrooms. Each apartment unit has a laundry area with washer and dryer provided. Each building is slab on grade with a vinyl sided exterior, pitched roof with dimensional shingle covering, aluminum soffits, downspouts, gutters and downspouts. A refrigerator, stove, dishwasher and sleeve air conditioner are included in each unit. There is adequate on-site parking on asphalt paved lots. The tenants (in all three apartment buildings) are responsible for their own electric and water/sewer. They are all located within half a mile from the University of Wisconsin-Platteville campus.

Exclusively Listed By

Financing By

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