Marcus & Millichap is pleased to present 418 Beloit Street located in Walworth, Wisconsin, 60 miles southwest of Milwaukee and 75 miles northwest of Chicago. The subject property is located 2.9 miles from the Illinois/Wisconsin border and just 2.8 miles from Geneva Lake. Geneva Lake is a very popular resort area that connects the towns of Fontana-On-Geneva and Lake Geneva. The Geneva Lake area has over a 150-year history of attracting wealthy families year-round from Chicago and Milwaukee which makes for a great area to invest in real estate.
The subject property consists of two well-maintained buildings on one large lot totaling 1.495 acres. The property consists of 16 twobedroom/one-bathroom five-room units, approximately 850 square feet each. Tenants pay their own gas and electric. Amenities include on -site laundry, central heating/cooling with thermostat, patios, second story porches, large outside common area, storage units in large basements and plenty of parking on a paved lot. Capital improvements include tear off roofs (2011), new windows with transferable warranty (2011), and newer furnaces and water heaters.
The subject apartment complex is a 0.4 mile walk from the village main square and multiple restaurants, all which are ideal for tenants looking to rent in the area. The property is accessible by Wisconsin Highway 67 and US Highway 14 and is within a four-minute drive from the nearest grocery store, elementary school and high school. Population and local employment are expected to grow in the Walworth area which are attracting investors to the area.
This property is centrally located and provides a great opportunity for investors to achieve stable cash flow for many years to come.
