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4023-4209 50th St & 5020 40th Ave.
4023-4209 50th St & 5020 40th Ave., Kenosha, WI 53144
56 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 45,136 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Cap Rate:
- Gross Rent Multiplier:
- No. Stories:
- Year Built:
- Lot Size:
- 2.68 AC
- Listing ID
- Last Updated
- over 1 year ago
- Bank Owned Property Priced Below Assessed Value
- Range and Refrigerator Included in All Occupied Units
- Laundry Facilities in Each Building (Leased) and Lot Parking (76 Spaces)
- Value Add Opportunity After Upgrades - Two Units with Significant Upgrades Needed
- Additional 40 Units Available Less than Half a Mile Away
- Seven Buildings; Eight-Units in Each Building
The property located at 4023-4209 50th Street & 5020 40th Avenue consists of seven brick buildings with two stories each and a total of 40 units. Located in Kenosha, WI (Kenosha County), the property was built in 1976 on a total of 2.68 acres. Kenosha is located approximately 35 miles south of Milwaukee and 55 miles north of Chicago.
Of the 56 units, 24 units are two-bed units with 1-bathroom and 32 units are two-bed with 1.5-bathrooms. Current rents are $625 & $650, respectively. One parking space is included in the rent. Rent also includes the gas heat, gas hot water, water and sewer. Tenants are responsible for their individual electric usage which includes the individual air conditioner. Occupied units include a range, refrigerator and the initial air conditioner unit. Should the a/c unit break, tenants must provide their own replacement. Vacant units have appliances ordered once leases are signed. The basements have storage units and laundry facilities; one pair per building that are leased.
This is a bank owned property with some deferred maintenance and upgrades needed. An additional 40 units are available less than half a mile away through the same bank
Kenosha is located approximately 35 miles south of Milwaukee and 55 miles north of Chicago.
Map of 4023-4209 50th St & 5020 40th Ave., Kenosha, WI 53144 (Kenosha County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO