Eight-Unit Apartment
1702 Alfred Drive, Luxemburg, WI 54217
For Sale
New
$999,900
Two neighboring residential buildings combine private outdoor space, shared laundry, and garage parking in Luxemburg.
Property Size5,132 SF
Price / SF$194.84
Days on Market5
Property Features for 1702 Alfred Drive
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Amenities
private deck or terrace
common-area laundry
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Kos Realty Group
Listed By:
Brittney Kleifgen · License WI #9058724
(920) 680-8922
Source:
Howardandwilliams
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 13 at 5:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kos Realty Group
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Investment Insights
Based on property information with market context.
This Luxemburg multifamily offering comprises two neighboring apartment buildings with four units apiece. The eight apartments each have two bedrooms and one bathroom, along with a private deck or terrace. Shared laundry is provided in each building, and the property includes 10 detached garage stalls. Both buildings were constructed in 1989 and are zoned Commercial.
All eight apartments are currently occupied. The combination of unit-level outdoor space, building laundry, and garage parking defines the property’s existing configuration.
All eight apartments are currently occupied. The combination of unit-level outdoor space, building laundry, and garage parking defines the property’s existing configuration.
Key Highlights
- Two neighboring apartment buildings with 4 units each
- 8 apartments, each configured with 2 bedrooms and 1 bathroom
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,743
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,860
$834.9K
Cap Rate 7%
$596,329
$596.3K
Cap Rate 9%
$463,811
$463.8K
Market Conditions
NOI Build-Up for 5,132 SF
Gross rent
$80.1K $15.60/SF
− Vacancy
−$4.2K −$0.81/SF
EGI
$75.9K $14.79/SF
− OpEx
−$34.2K −$6.65/SF
NOI
$41.7K $8.13/SF
Area
Kewaunee County, WI
Vacancy
5.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,860
Cap Rate 7%
$596,329
Cap Rate 9%
$463,811
Alternative Uses
Best Use
Apartment 5plus
$596.3K
$521.8K – $695.7K
NOI $41,743 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,754 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 54217, WI
7,713
Population
3,265
Households
2.4
Avg Household Size
42
Median Age
26%
College-Educated
95%
High-School Grad
112.0 sq mi
ZIP Area
69
Density / Sq Mi
$85,893
Median Household Income
$46,822
Median Earnings
$956
Median Rent
$255,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two neighboring residential buildings combine private outdoor space, shared laundry, and garage parking in Luxemburg.
Where is this apartment building located?
The property is located at 1702 Alfred Drive Luxemburg, WI.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two neighboring apartment buildings with 4 units each; 8 apartments, each configured with 2 bedrooms and 1 bathroom; 100% occupied
