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El Dorado Apartments 130 Forest Ave 28 Unit Apartment Building $1,600,000 ($57,143/Unit) 7.83% Cap Rate Fond Du Lac, WI 54935
Investment Highlights
- 28 Unit "El Dorado" Apartments in Downtown Fond du Lac, WI
Executive Summary
28 Units in Downtown Fond du Lac with FANTASTIC FINANCING available to well-qualified Buyers. If you assume the 5-year 3.7% Freddie Mac loan with balance of $1,113,000 you buy the building with ONLY 31% DOWN on the price of $1,600,000. That's only $57,143/unit. There are 14 two-bedroom and 14 one-bedroom units. There are currently 4 vacant units due to management change. The building features coin laundry, off-street parking, patio, play area, and a large green space. Tenants pay their own electricity plus $60/mo to Landlord for gas heat & hot water. For sale at a 6.4 CAP. The assumable 3.7% is locked until 3/31/2031, then adjustable similar to other commercial notes. There is plenty of green space with a playground, patio, and the entire vacant lot to the south. Tenants can walk to the shops and dining on E. Main Street, and to the Fond du Lac YMCA. The apartments were rehabbed within the past 15 years and there is room for rent growth. Listed by Graig Goldman. Contact Graig at 414-788-0449, ggoldman@remax.net with any questions. The Assumable Loan bal is $1,114,000 fixed at 3.7pct until 4/1/2031, then variable until 4/1/2041. There are no rent or other restrictions tied to the loan.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$268,212
|
$9.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$18,775
|
$0.65
|
| Effective Gross Income |
$249,437
|
$8.62
|
| Taxes |
$31,341
|
$1.08
|
| Operating Expenses |
$115,201
|
$3.98
|
| Total Expenses |
$146,542
|
$5.07
|
| Net Operating Income |
$102,895
|
$3.56
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $268,212 |
| Annual Per SF | $9.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $18,775 |
| Annual Per SF | $0.65 |
| Effective Gross Income | |
|---|---|
| Annual | $249,437 |
| Annual Per SF | $8.62 |
| Taxes | |
|---|---|
| Annual | $31,341 |
| Annual Per SF | $1.08 |
| Operating Expenses | |
|---|---|
| Annual | $115,201 |
| Annual Per SF | $3.98 |
| Total Expenses | |
|---|---|
| Annual | $146,542 |
| Annual Per SF | $5.07 |
| Net Operating Income | |
|---|---|
| Annual | $102,895 |
| Annual Per SF | $3.56 |
Property Facts
| Price | $1,600,000 | Building Class | C |
| Price Per Unit | $57,143 | Lot Size | 0.64 AC |
| Sale Type | Investment | Building Size | 28,924 SF |
| Cap Rate | 7.83% | Average Occupancy | 80% |
| Gross Rent Multiplier | 28 | No. Stories | 4 |
| No. Units | 28 | Year Built/Renovated | 1920/2010 |
| Property Type | Multifamily | Parking Ratio | 0.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | Commercial | ||
| Price | $1,600,000 |
| Price Per Unit | $57,143 |
| Sale Type | Investment |
| Cap Rate | 7.83% |
| Gross Rent Multiplier | 28 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 28,924 SF |
| Average Occupancy | 80% |
| No. Stories | 4 |
| Year Built/Renovated | 1920/2010 |
| Parking Ratio | 0.83/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Commercial |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Yard
Site Amenities
- Controlled Access
- Laundry Facilities
- Picnic Area
- Gas Range
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | $877.50 | 750 - 1,000 |
| 1+1 | 14 | $777.50 | 1 - 700 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Total Assessment | $1,484,400 (2024) | |
| Land Assessment | $249,000 (2024) | Annual Taxes | $31,341 ($1.08/SF) |
| Improvements Assessment | $1,235,400 (2024) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$249,000 (2024)
Improvements Assessment
$1,235,400 (2024)
Total Assessment
$1,484,400 (2024)
Annual Taxes
$31,341 ($1.08/SF)
Tax Year
2026
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El Dorado Apartments | 130 Forest Ave
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