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Whitney School Lofts 215 N Webster Ave 23 Unit Apartment Building $5,150,000 ($223,913/Unit) 6.18% Cap Rate Green Bay, WI 54301
INVESTMENT HIGHLIGHTS
- Located in Downtown Green Bay, the Third Largest City in Wisconsin
- Loan Assumption Avaible until 2060 at a 4.79% intrest rate
- Stabilized Property, Currently 100 Percent Occupied with Great Historical Occupancy
- Luxury Units with High-End Appliances, Quartz Counters, In-Unit Washer and Dryers
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer the Whitney School Lofts Apartments located in downtown Green Bay, WI. Completely renovated in 2020, this property sits on 1.48 acers of land located at 215 N Webster Ave. This multifamily opportunity has gone through significant improvements that include high efficiency heating and cooling, new electrical, new plumbing, high end fitness center, and large outdoor and entertainment space. Whitney school lofts are considered to be some of the highest quality units in the green bay market that
feature stainless steel appliances, quartz counters, in-unit washer and dryers’ floor-to-ceiling windows, refurbished wood floors, tall ceilings with unique open floor style units. This 23-unit luxury apartment building consists of twelve 1-bed 1-bath units, nine 2-bed 1.5-bath units, and two 2-bed 2-bath units.
feature stainless steel appliances, quartz counters, in-unit washer and dryers’ floor-to-ceiling windows, refurbished wood floors, tall ceilings with unique open floor style units. This 23-unit luxury apartment building consists of twelve 1-bed 1-bath units, nine 2-bed 1.5-bath units, and two 2-bed 2-bath units.
PROPERTY FACTS
| Price | $5,150,000 | Building Class | B |
| Price Per Unit | $223,913 | Lot Size | 1.48 AC |
| Sale Type | Investment | Building Size | 38,000 SF |
| Cap Rate | 6.18% | Average Occupancy | 100% |
| No. Units | 23 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 1.42/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $5,150,000 |
| Price Per Unit | $223,913 |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.48 AC |
| Building Size | 38,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2020 |
| Parking Ratio | 1.42/1,000 SF |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Smoke Free
- Window Coverings
SITE AMENITIES
- Controlled Access
- Courtyard
- Fitness Center
- Picnic Area
- Vintage Building
- Elevator
- Lounge
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 744 - 765 |
| 2+1.5 | 9 | - | 915 - 977 |
| 2+2 | 2 | - | - |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 9-112 | Improvements Assessment | $2,256,800 |
| Land Assessment | $317,400 | Total Assessment | $2,574,200 |
PROPERTY TAXES
Parcel Number
9-112
Land Assessment
$317,400
Improvements Assessment
$2,256,800
Total Assessment
$2,574,200
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Whitney School Lofts | 215 N Webster Ave
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