Current Use by Public Records
- Apartment buildings
Property Details for 1290 Wayne Rd
- Year built
- 1972
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity in West Bend, Wisconsin, presents a compelling case for strong returns. Located just 40 miles north of Milwaukee in the desirable Washington County submarket, this 64-unit apartment complex enjoys convenient access to shopping, dining, and entertainment, complemented by nearby parks and the Milwaukee River. The property comprises three, two-story buildings totaling 53,050 square feet, constructed in 1972 and zoned RM-4. The unit mix includes 18 one-bedroom, 14 two-bedroom, and 32 two-bedroom, one-and-a-half-bathroom apartments. A significant portion of the units – 48 in total – boast contemporary updates, featuring stainless steel appliances, black granite countertops, white cabinets, new luxury vinyl plank flooring, and new carpeting in the bedrooms. Each unit includes a sleeve air conditioning unit and a private patio or balcony. Washington County offers a more affordable rental market than Milwaukee, with average rents significantly lower. This property benefits from an assumable below-market debt through Fannie Mae's program, boasting a favorable 3.40% interest rate, a 30-year amortization period, and a maturity date of November 1, 2030. The Fannie Mae program also allows for a supplemental loan to reduce the required equity. This combination of location, updated units, and favorable financing makes this a truly attractive investment prospect.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Bend
- County
- Washington
- State
- Wisconsin
- Longitude
- -88.1935
- Latitude
- 43.4372
