This property is Off-Market

1785 Verlin Rd
Green Bay, WI 54311 ·

28 Units · Multifamily For Sale

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Verlin Road Estates

Price N/A Cap Rate 7%
No. Units 28 Gross Rent Multiplier 8.60
Building Size 29,512 SF Occupancy 97%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 2004
Property Use Type Investment Lot Size 2.79 AC
Commission Split 1.75%
Listing ID: 15512676 Date Created: 01/14/2008 Last Updated: 04/14/2008

Description

This 28 unit apartment building is located in one of Green Bay' s fastest growing suburbs and is a unique opportunity. It is a high end luxury apartment building that is rarely found outside of multi-hundred unit complexes. All units have their own laundry facilities included. Most have attached garages and some even have gas fireplaces. The building is a great mix of 2 bedroom 2 bath, 2 bedroom 1 bath, and 2 bedroom loft units. The property is only four years old and is price over $100,000 below the appraised value from when it was built. The complex is professionally managed by Mac Ewen Property Management. There is no deferred maintenance in the complex and when walking through the complex you' ll notice the small touches that make this a great long term investment. Quality light fixtures throughout, high quality windows, doors, and cabinetry will keep this property competitive for decades. Moreover, the rents are currently well below market and will have room to increase immediately.

Green Bay, WI has an excellent record of job growth. In 2005, Green Bay had the 5th highest percentage job growth in the nation. Green Bay has also been ranked in the top ten in the nation for areas that encourage new start up businesses.

Highlights

  • In Unit Laundry
  • Attached Garages
  • Fireplaces
  • Loft Units
  • Excellent Location
  • $100,000 Below Appraised Value

Research

1785 Verlin Rd, Green Bay, WI 54311 (Brown County)

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