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8401 198th Ave 24 Unit Apartment Building $2,400,000 ($100,000/Unit) Bristol, WI 53104
Investment Highlights
- ±1.84-acre site comprising 24 garden-style apartment units.
- Recent property upgrades and significant capital investment completed.
- Positioned near major highways, employment hubs, and retail amenities within Bristol and Kenosha County.
- Balanced mix of one-bedroom and two-bedroom floor plans appealing to varied rental demand.
- Onsite laundry facilities and ample surface parking for residents.
Executive Summary
This 24-unit garden-style apartment building offers an attractive multifamily investment in the growing Village of Bristol, Kenosha County. The property consists of an even mix of twelve one-bedroom, one-bath units and twelve two-bedroom, one-bath units, providing diversification and broad market appeal. Situated on a ±1.84-acre parcel, the asset features durable construction with wood framing, brick, and siding along with asphalt shingle roofing.
Recent capital improvements have reduced immediate maintenance exposure, while opportunities remain to increase revenue through as-is rent adjustments. Current gross scheduled rent is approximately $256,000 annually, with pro forma potential reaching $324,000 under market adjustments. This upside, paired with strong occupancy drivers and proximity to major transportation routes such as Interstate 94, makes the property well-positioned for long-term investor value.
Amenities include onsite coin-operated laundry, surface parking for approximately 40 vehicles, and durable slide-by windows. Located near Bristol Industrial Park and regional employers, the asset supports stable demand and consistent occupancy trends across the submarket.
Recent capital improvements have reduced immediate maintenance exposure, while opportunities remain to increase revenue through as-is rent adjustments. Current gross scheduled rent is approximately $256,000 annually, with pro forma potential reaching $324,000 under market adjustments. This upside, paired with strong occupancy drivers and proximity to major transportation routes such as Interstate 94, makes the property well-positioned for long-term investor value.
Amenities include onsite coin-operated laundry, surface parking for approximately 40 vehicles, and durable slide-by windows. Located near Bristol Industrial Park and regional employers, the asset supports stable demand and consistent occupancy trends across the submarket.
Property Facts Under Contract
| Price | $2,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.84 AC |
| No. Units | 24 | Building Size | 9,644 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1979 |
| Zoning | Commercial - Commercial | ||
| Price | $2,400,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.84 AC |
| Building Size | 9,644 SF |
| No. Stories | 1 |
| Year Built | 1979 |
| Zoning | Commercial - Commercial |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 12 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 37-4-121-083-0327 | Improvements Assessment | $1,997,500 |
| Land Assessment | $150,500 | Total Assessment | $2,148,000 |
Property Taxes
Parcel Number
37-4-121-083-0327
Land Assessment
$150,500
Improvements Assessment
$1,997,500
Total Assessment
$2,148,000
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8401 198th Ave
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