W2306 Wi-23 Montello, WI 53949
- Residential income homes
- 5,114 SF
- 1.09 lot acres
Current Use by Public Records
- Residential income homes
Property Details for W2306 Wi-23
- Year built
- 1980
- Lot size
- 1.09 lot acres
- Property size
- 5,114 SF
- Property type
- Residential income homes
Description
This exceptional value-add investment opportunity presents a portfolio of five rental units situated on a spacious 1.09-acre lot in Montello, Wisconsin. The property comprises three buildings: a three-unit stick-built structure on a slab foundation and two mobile homes, all situated on a single lot. Built in 1980, the property offers a total of 5,114 square feet of net rentable space, currently boasting a 60% occupancy rate. The current Net Operating Income (NOI) stands at $30,000, yielding a 10.34% capitalization rate. However, with strategic upgrades and improved management, a significant increase in profitability is projected, with a pro-forma NOI of $39,200 and a pro-forma cap rate of 13.52%. The asking price is $290,000, translating to $58,000 per unit. The property is zoned residential and presents a compelling opportunity for investors seeking immediate cash flow and long-term appreciation. This is a rare chance to acquire a multifamily portfolio in a peaceful rural setting with substantial upside potential. The property's location in Marquette County, Wisconsin, offers a blend of tranquility and accessibility. This is a Class C property with significant value-add potential for the right investor.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montello
- County
- Marquette
- State
- Wisconsin
- Longitude
- -89.2771
- Latitude
- 43.8131
