234 Prince St Whitewater, WI 53190-1302

Property Details for 234 Prince St

Lot size

1.62 lot acres

Property type

Commercial real estate

APN

/A438600001

APU

A438600001

Description

This exceptional investment opportunity presents a 24-unit multifamily property ideally situated in Whitewater, Wisconsin, catering to the University of Wisconsin-Whitewater student population. The property comprises two buildings totaling 28,291 square feet, constructed in 2012. One building is a three-story structure with a concrete exterior and block foundation, while the second is a two-story house with vinyl siding and a block foundation. Roofing consists of a flat rubber membrane and pitched asphalt shingles. The 1.79-acre site includes two parcels (A438600001 and WUP00178A). The property boasts 87 beds distributed across unit types including one-bedroom, two-bedroom, three-bedroom, and four-bedroom units. Amenities include in-unit washer/dryers, a community room, a study room, and 60 parking stalls (55 surface lots at $50/month and 5 underground at $80/month). Utilities are a mix of landlord-paid (heat, hot water, water, sewer) and tenant-paid (electricity, air conditioning). Appliances include ranges, refrigerators, dishwashers, microwaves, and disposals. Patios or balconies are included with most units. The property currently enjoys a 94.25% occupancy rate, generating a Net Operating Income (NOI) of $331,380, representing a 6.69% capitalization rate. The asking price is $4,950,000, or $56,897 per unit, and $174.97 per square foot. This property offers a compelling combination of strong performance metrics and desirable student housing features in a thriving university town.