Waterfront Triplex with Direct Lake
For Sale
Contact for pricing
408 W Lake Street, Lake Mills, WI 53551
Three-unit waterfront property on Mill Pond with direct access to Rock Lake and a recently updated vacant unit.
Property SizeContact for details
Days on Market62
Property Features for 408 W Lake Street
General Information
Standard status
Active
Property subtype
Multifamily
Building Details
Year Built
1890
Listing Agency:
Century 21 Affiliated
Listed By:
Laura Staude Flood · License #52477-90
Source:
Crexi
Added: Jun 5
Changed: Jul 10
Last Checked: Aug 5 at 1:11PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This tri-plex offers three residential units configured as a 3-unit multifamily. The property is situated on the Mill Pond on approximately one acre of land, with direct access to Rock Lake. One unit is currently vacant and has been recently updated, providing the option to move in while readying the remaining rental income. The listing also notes the right renovation could allow the home to be used as a waterfront single-family residence.
The property is located at 408 W Lake Street in Lake Mills, Wisconsin. Showings begin 06/12. The home is described as being on the water with a backyard view of the pond, and it is located just a couple of blocks from downtown Lake Mills and Bartels Beach.
For investors, the current multifamily setup provides a straightforward hold-and-lease configuration with an already-updated vacancy. For owner-occupants, the updated vacant unit can support living in one unit while collecting rent from the other units. Buyers looking for a single-family waterfront option may find the on-site layout and lake access appealing if they plan a renovation based on the property’s existing character and water setting. Also listed as Single Family MLS# 2025195.
The property is located at 408 W Lake Street in Lake Mills, Wisconsin. Showings begin 06/12. The home is described as being on the water with a backyard view of the pond, and it is located just a couple of blocks from downtown Lake Mills and Bartels Beach.
For investors, the current multifamily setup provides a straightforward hold-and-lease configuration with an already-updated vacancy. For owner-occupants, the updated vacant unit can support living in one unit while collecting rent from the other units. Buyers looking for a single-family waterfront option may find the on-site layout and lake access appealing if they plan a renovation based on the property’s existing character and water setting. Also listed as Single Family MLS# 2025195.
Key Highlights
- Tri‑plex built in 1890, currently operating as a 3‑unit multifamily
- 1‑acre waterfront property on the Mill Pond with direct access to Rock Lake
- Vacant unit was recently updated
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
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Business Placement
Demographics for 53551, WI
8,920
Population
4,048
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
96%
High-School Grad
39.6 sq mi
ZIP Area
225
Density / Sq Mi
$89,841
Median Household Income
$53,503
Median Earnings
$1,089
Median Rent
$322,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit waterfront property on Mill Pond with direct access to Rock Lake and a recently updated vacant unit.
Where is this triplex located?
The property is located at 408 W Lake Street Lake Mills, WI.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Tri‑plex built in 1890, currently operating as a 3‑unit multifamily; 1‑acre waterfront property on the Mill Pond with direct access to Rock Lake; Vacant unit was recently updated
