114 W Woolcock St
Jefferson, WI 53549
Multifamily Property For Sale · 16 Units

Projected, actual rental income of $128,220 + $3,360 projected income from 7 garages - 2% vacancy factor totaling approx $129,006 for gross income - $14,700 for utilities (water/electric/garbage, etc) -$4,910 for insurance, $17,869 for property taxes, $4,000 for lawn care & snow removal, $5,000 for maintenance related expenses and $2,000 for miscellaneous expenses totaling $48,479 resulting in $80,527 for projected net income. Management fees were not factored in but neither were likely rental incomes from adjusting rents which have not been raised in some cases for many years. In addition, the owner currently lives in an attractive 2 bd/2bth lower unit that could easily be made into two spacious one bedroom units netting an extra $5,000 to $6,000 of additional income. For these reasons the plus & minuses offset each each other conservatively but likely would result in decent extra income should these changes be made. A cap rate in excess of 8% appears to be a given, the question is how much more than 8% cap rate can be achieved with good management of this property. You be the judge of how much you want to do to improve its bottom line through active ownership of this investment property.