11-Unit Apartment
For Sale
$1,495,000
643 Meadow Ln, Burlington, WI 53105
Single-level apartments feature private entrances, in-unit laundry, and patios adjoining wooded park land.
Property Size10,000 SF
Price / SF$149.50
Days on Market53
Property Features for 643 Meadow Ln
General Information
Standard status
Active
Size
10,000 SF
Units
Unit Mix
9 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
11
Amenities
in-unit laundry
private patios
Building Details
Year Built
1986
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Thrive-Caledonia
Listed By:
Andrew Bollmeier · License #58795
(262) 498-4248
Source:
Jwregwi
Added: Aug 15
Changed: Sep 24
Last Checked: Oct 5 at 11:15PM
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 Keller Williams Thrive-Caledonia
Investment Insights
Based on property information with market context.
This 11-unit apartment building contains nine one-bedroom, one-bath apartments and two two-bedroom, one-bath apartments within a 10,000-square-foot all-brick structure. Each residence is arranged on a single level with a private entrance and in-unit laundry. Many apartments have been updated, and private patios overlook wooded park land.
The property is located in Burlington near Brown's Lake, downtown, Gateway, and Burlington High School. Recent leasing activity includes rent increases in four units, while the property information also notes limited vacancy and additional room for rent growth in other units.
The property is located in Burlington near Brown's Lake, downtown, Gateway, and Burlington High School. Recent leasing activity includes rent increases in four units, while the property information also notes limited vacancy and additional room for rent growth in other units.
Key Highlights
- 11 units: 9 one‑bedroom/one‑bath and 2 two‑bedroom/one‑bath apartments
- 10,000‑square‑foot all‑brick apartment building
- Single‑level layouts with private entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,040
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,900,800
$1.9M
Cap Rate 7%
$1,357,714
$1.4M
Cap Rate 9%
$1,056,000
$1.1M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$180.0K $18.00/SF
− Vacancy
−$7.2K −$0.72/SF
EGI
$172.8K $17.28/SF
− OpEx
−$77.8K −$7.78/SF
NOI
$95.0K $9.50/SF
Area
Racine County, WI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,900,800
Cap Rate 7%
$1,357,714
Cap Rate 9%
$1,056,000
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $95,040 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.81M
NOI $168,336 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 53105, WI
29,654
Population
12,995
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
159.5 sq mi
ZIP Area
186
Density / Sq Mi
$88,798
Median Household Income
$48,254
Median Earnings
$1,029
Median Rent
$295,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Single-level apartments feature private entrances, in-unit laundry, and patios adjoining wooded park land.
Where is this apartment building located?
The property is located at 643 Meadow Ln Burlington, WI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 11 units: 9 one‑bedroom/one‑bath and 2 two‑bedroom/one‑bath apartments; 10,000‑square‑foot all‑brick apartment building; Single‑level layouts with private entrances
