1625 Phillips Ave | Racine, WI 53403
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1625 Phillips Ave
Racine, WI 53403
Multifamily Property For Sale
·
10 Units
Investment Highlights
- Rare opportunity to own one of the few licensed Rooming Houses/SROs in Racine!
- The rooming house has a kitchen and bathroom and coin op washer and dryer that are shared by the tenants.
- With recent tenants renting at $325/room/mo and in-place $775/mo lease for lower, this property is a cash cow!
- There are 9 individually leased furnished rooms upstairs and a 2 bedroom apartment below.
- All tenants are MTM. All units are occupied.
- Pro Forma/operating statement available upon request.
Property Facts
| No. Units | 10 | Lot Size | 0.11 AC |
| Property Type | Multifamily | Building Size | 2,800 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | C | Year Built | 1927 |
| Zoning | R3 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,800 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1927 |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Porch
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | $325.00 | - |
| 2+1 | 1 | $775.00 | - |
Property Taxes
| Parcel Number | 276-000014245000 | Improvements Assessment | $115,500 |
| Land Assessment | $8,000 | Total Assessment | $123,500 |
Property Taxes
Parcel Number
276-000014245000
Land Assessment
$8,000
Improvements Assessment
$115,500
Total Assessment
$123,500
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