165 S Chet Krause Dr - Butternut Ridge 12 Unit Apartment Building Offered at $995,000 Iola, WI 54945

Investment Opportunity! Discover this unique 12-unit apartment complex located in the Village of Iola! Spanning an entire block, this property consists of two combined buildings with over 39,000 square feet and offers ample space with potential to add additional units or repurpose the other square footage. The complex features off-street parking for tenants, on-site laundry, and inviting common gathering areas, perfect for socializing, card nights, or game day Sundays. Unit layouts include a mix of 2-bedroom/1-bath and 1-bedroom/1-bath apartments. The property boasts a strong rental history, and all units are currently occupied. The other building has potential to be repurposed or could be other potential uses. It was formerly used as a medical facility. The construction materials would be difficult to duplicate for the price this one is being offered at. Lower level features additional storage areas and utility rooms. There is a ton of potential with all the square footage this property has to offer, plus the cash flow from the 12 units that is currently in place makes this a rare investment opportunity. Don’t miss, schedule your showing today!
Building is available to view along with the common areas at this time. For a second showing with adequate notice one unit may be able to be viewed and the remaining units may be viewed with an accepted offer.
The landlord pays for gas, trash, and lawn care/snow removal. Tenants pay for telephone, internet, and electricity. Sewer and water are not individually metered. The landlord charges each tenant a monthly fee to cover sewer/water. See leases for details.