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1815 Thurston Ave
Racine, WI 53403
Multifamily Property For Sale
·
16 Units
PROPERTY FACTS
| No. Units | 16 | Building Size | 13,904 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1964 |
| Building Class | C | Parking Ratio | 1.48/1,000 SF |
| Lot Size | 0.46 AC | ||
| Zoning | R4 | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 13,904 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | R4 |
ABOUT 1815 THURSTON AVE , RACINE, WI 53403
Coldwell Banker Commercial NRT is pleased to offer the subject property located at 1815 Thurston Avenue consists of one brick/siding building with two stories and a total of 16 units. Located in Racine, WI (Racine County), the property was built in 1964 on a total of 0.46 acres. The property is currently 100% occupied.Of the 16 units, there are two 1-bed units and 14 2-bed units. Current rents are $600 - $640, respectively. On-site parking is included in rent, along with gas heat (boiler installed 2016), gas hot water (new heater in 2011) and water/sewer. Tenants are responsible for their individual electricity.All units include a range, refrigerator and wall sleeve for a/c units. Some units include air conditioning units. Laundry facilities (seven owned machines) are located in the basement along with individual storage units.This offering gives an investor the opportunity to own an easy-to-manage property with a high cap rate and low GRM.property overview Investment Highlights• 100% Occupied, 16 Unit Complex in Racine, WI• Mix of One and Two-Bedroom Units• On-Site Laundry Facilities and Lot Parking• Two new sump pumps installed 2018• Boiler & hot water heater installed in 2016• Intercom system installed 2016 Sale Price: $650,000NOI: $56,055CAP RATE: 8.62%
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $537.50 | 550 - 600 |
| 2+1 | 14 | $612.50 | 650 - 750 |
PROPERTY TAXES
| Parcel Number | 276-000014972003 | Improvements Assessment | $973,600 |
| Land Assessment | $42,400 | Total Assessment | $1,016,000 |
PROPERTY TAXES
