All-Brick Fourplex with
400 Franklin Street Unit 14 Watertown, WI 53094
400 Franklin Street Unit 14, Watertown, WI, 53094
$700,000
For Sale
$700,000
Four residential units each feature two bedrooms, one full bath, in-unit laundry, and a 1.5-car garage.
Property Size4,464 SF
Price / SF$156.81
Days on Market149
Property Features for 400 Franklin Street Unit 14
General Information
- Standard status
- Active
- Size
- 4,464 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1984
Listing agency
Shorewest Realtors, Inc.
(262) 719-0132
Listed by
Jason R Bonesteel · License #59093-90
(262) 719-0132
Source
Compass
Added: Feb 23 Updated: Jul 21 at 11:54PM Checked: Jul 21 at 11:54PM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This all-brick fourplex offers four residential units with two bedrooms and one full bath each, along with in-unit laundry. The property includes all-brick garages, with each unit assigned a 1.5-car garage equipped with an electric door opener. Upper units feature a balcony, while lower units provide outside access. Units 1 and 4 are vacant and move-in ready with new flooring and fresh paint, while Units 2 and 3 are currently occupied and require a second showing request for access.
The seller reports the roof on the building is approximately 15 years old and the roof on the garages is approximately 14 years old.
Operating expenses are structured so tenants pay electric, gas, and water, while the owner pays a small common area electric bill, per the seller.
The seller reports the roof on the building is approximately 15 years old and the roof on the garages is approximately 14 years old.
Operating expenses are structured so tenants pay electric, gas, and water, while the owner pays a small common area electric bill, per the seller.
Key Highlights
- 4‑unit apartment complex built in 1984 with all‑brick exterior construction for low‑maintenance upkeep
- Each unit offers 2 bedrooms, 1 full bath, and in‑unit laundry
- Each unit includes a 1.5‑car garage with electric door opener, with all brick garages
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.9k | $13.20 |
| − Vacancy | −$2.0k | −$0.44 |
| EGI | $57.0k | $12.76 |
| − OpEx | −$17.1k | −$3.83 |
| NOI | $39.9k | $8.93 |
4,464 SF · lease $13.20/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$569.7K
$498.5K – $664.6K
NOI $39,878 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$528.0K
$462.0K – $616.0K
NOI $36,961 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$969.7K
$848.5K – $1.13M
NOI $67,881 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four residential units each feature two bedrooms, one full bath, in-unit laundry, and a 1.5-car garage.
Where is this quadplex located?
The property is located at 400 Franklin Street Unit 14 Watertown, WI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 4‑unit apartment complex built in 1984 with all‑brick exterior construction for low‑maintenance upkeep; Each unit offers 2 bedrooms, 1 full bath, and in‑unit laundry; Each unit includes a 1.5‑car garage with electric door opener, with all brick garages
