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Conservancy Apartments 4868 Innovation Dr 8 Unit Apartment Building $2,775,000 ($346,875/Unit) Deforest, WI 53532
Investment Highlights
- Close to walking trails and parks
- Buyer could sell off each unit as individual condos.
Executive Summary
This is a fantastic opportunity to buy two newer 2015 custom designed and meticulously built and maintained 4 unit buildings with large townhome units. All 8 townhomes are 3 br / 2.5 ba / 1,850sf and have attached 2 car garages, covered porches, and in-unit laundry. Each townhome has a foyer entry, large living room and kitchen, dining room, and bathroom on the 1st floor with 3 bedrooms, 2 bathrooms, and a laundry room on the 2nd floor. To make a condo conversion easier, all units are separately metered, tenants pay all utilities, and there is a studded air gap between units for an increased sound barrier. These buildings are very easy to lease being across from Conservancy Park with a splash pad and close to walking trails with lots of green space. $17,430/mo in total monthly rents.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$209,160
|
$14.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$209,160
|
$14.13
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $209,160 |
| Annual Per SF | $14.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $209,160 |
| Annual Per SF | $14.13 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts Under Contract
| Price | $2,775,000 | Apartment Style | Townhome |
| Price Per Unit | $346,875 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.08 AC |
| Gross Rent Multiplier | 13.2 | Building Size | 14,800 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2015 |
| Zoning | PUD - Planned Unit Development | ||
| Price | $2,775,000 |
| Price Per Unit | $346,875 |
| Sale Type | Investment |
| Gross Rent Multiplier | 13.2 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 1.08 AC |
| Building Size | 14,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2015 |
| Zoning | PUD - Planned Unit Development |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 8 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0910-302-8060-1 | Improvements Assessment | $1,184,400 |
| Land Assessment | $180,100 | Total Assessment | $1,364,500 |
Property Taxes
Parcel Number
0910-302-8060-1
Land Assessment
$180,100
Improvements Assessment
$1,184,400
Total Assessment
$1,364,500
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Conservancy Apartments | 4868 Innovation Dr
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