1131 Erie St - Apartments FOR SALE


Racine, WI 53402- Downtown Racine
$895,000 USD
312-860-4043
1131 Erie St, Racine, WI for Sale
$895,000 USD
Apartments - FOR SALE
1/17
null | 7.65% Cap Rate

1131 Erie St
Racine, WI 53402
Downtown Racine


HIGHLIGHTS

  • Fully Renovated 7-Unit Property
  • Attractive Unit Mix: (4) 2BR/1BA and (3) 1/BR
  • Attractive Unit Mix: (4) 2BR/1BA and (3) 1/BR
  • Durable Exterior Improvements
  • Stabilized Asset with Immediate Cash Flow
  • Near Downtown Racine Location

OVERVIEW

Exceptional opportunity to acquire a fully renovated, cash-flowing 7-unit multi-family property, spanning two buildings on a single parcel in the vibrant Downtown Racine area. This stabilized asset has undergone a top-to-bottom renovation, making it a truly turnkey investment with minimal future capital requirements. The unit mix includes four (4) 2-bedroom, 1-bath units and three (3) 1-bedroom, 1-bath units—ideal for attracting long-term tenants and maximizing rental income. Exterior upgrades include new porches, windows, roofs, gutters, and brand-new siding on both buildings. All major mechanical systems have been updated. Each unit has been fully gut-rehabbed and features luxury vinyl plank flooring, LG stainless steel appliances, modern lighting, and stylish finishes—delivering a contemporary, low-maintenance living experience. Additional amenities include a full basement with spacious tenant storage, offering the potential to generate additional income, as well as an on-site laundry facility. This is an excellent opportunity for both new and seasoned investors to acquire a stable, income-generating asset with updated infrastructure and strong long-term upside.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$263 USD /SF

# OF UNITS

7

PRICE/UNIT

$127,857

CAP RATE

7.65%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turnkey 7-Unit Multi-Family I Downtown Racine

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

R-3

APN/PARCEL ID

276-000002523000

ASK ABOUT THIS PROPERTY

Paul ProanoColdwell Banker Commercial RealtyMore Info
312-860-4043

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Paul ProanoColdwell Banker Commercial RealtyMore Info
312-860-4043

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.