11405 S US Highway 53 - Apartments FOR SALE


Solon Springs, WI 54873
$465,000 USD
847-404-4008
11405 S US Highway 53, Solon Springs, WI for Sale
$465,000 USD
Apartments - FOR SALE
1/25
null | 10.04% Cap Rate

11405 S US Highway 53
Solon Springs, WI 54873


HIGHLIGHTS

  • Beautifully Appointed Historic Train Depot
  • Long Term responsibile tenants

OVERVIEW

Price reduced. Historic Train Depot beautifully converted to a 4 unit multi-family property. Solid, multi year tenants, with annual market rate leases and staggered expiration dates. Leases include a Sixty day cancellation clause upon acquisition. Tenants: 18 years, 7 years, and two 1 year. Previous tenants: one passed, one moved for work, both had been tenants over 5 years. Historic vacancies have been less than 30 days (not including renovation time) Two of the four units meticulously updated and renovated in 2023, while maintaining historic look and feel. Please see photos. Well maintained with a deep well (onsite/owned) with great water; city sewer, and local utilities. Spectacular 0.2 mile walk to St Croix Lake and lakeshore park. Nearby grocery, post office, bank, laundromat, and local restaurants. Priced to sell. A must see for income investors.

FOR SALE DETAILS

PRICE

$465,000 USD

PRICE/SF

$117 USD /SF

# OF UNITS

4

PRICE/UNIT

$116,250

CAP RATE

10.04%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1911

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

Commercial

APN/PARCEL ID

SS-181-00500-00

ASK ABOUT THIS PROPERTY

Randall ThompsonRandall ThompsonMore Info
847-404-4008

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Randall ThompsonRandall ThompsonMore Info
847-404-4008

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