925 W Gorman St, Elkhorn, WI 53121 $655,000

925 W Gorman St, Elkhorn BD: 0 BA: 1 $655,000 Offer-Show

  • Residential Income
  • Status: Offer-Show
  • County: Walworth
  • 0 Full Bathrooms
  • Acreage: 2.581
  • Elementary School: Call School District
  • Middle School: Elkhorn Area
  • High School: Elkhorn Area
  • Property Taxes: $6,172
  • Property Tax Year: 2021
  • MLS#: 1923893
  • Listing Company: Century 21 Affiliated Pfister
  • Number of Units: 32
  • Unit Type 1 Avg Rent: $490
  • Unit 1 Parking: 1 Space
  • Unit Type 2 Avg Rent: $544
  • Unit 2 Parking: 2 Space
  • Unit Type 3 Avg Rent: $597
  • Unit 3 Parking: 2 Space

925 W Gorman St, Elkhorn, WI 53121 - 32 unit apartment complex in Elkhorn. 16-1 bedroom, 14-2 bedroom, 2-3 bedroom units. Tenants pay electric heat. Large 2.5 acre lot. 4 washers and 4 dryers are leased. Property is in the USDA Rural Development Low Income Housing Program. Property is required to stay in the RD program until 12/6/2033. This RD program allows renting only to low income tenants. Rents are controlled. Profits limited to $3,304 per year. Must be professionally managed. Purchase: NO NEW LOANS can be taken on this property. Buyer assumes current mortgage of (approx. $17K balance) and brings cash to closing equal to difference between purchase price and mortgage balance. See documents for details.

Additional Features
  • None, Poured Concrete Foundation
  • Water Waste: Municipal sewer, Municipal water
  • 2 story, Apartment building
  • Construction Type: E
  • Waterfront/Access: N
Property History
MLS Number New Status Previous Status Activity Date New List Price Previous List Price Sold Price DOM
1923893 Offer-Show Active Jan 26 2022 11:56AM 193
1923893 Active Nov 16 2021 11:52AM $655,000 193

Estimated Monthly Payment

$3,287 per month
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The information which is contained on pages with property data is obtained from a number of different sources and which has not been independently verified or confirmed by the various real estate brokers and agents who have been and are involved in this transaction. If any particular measurement or data element is important or material to buyer, Buyer assumes all responsibility and liability to research, verify and confirm said data element and measurement. Shorewest Realtors is not making any warranties or representations concerning any of these properties. Shorewest Realtors shall not be held responsible for any discrepancy and will not be liable for any damages of any kind arising from the use of this site.
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Rates and fees are subject to adjustments based on your credit score and the loan-to-value ratio. Rates and fees are also subject to change without notice. Other rates and loan programs are available.
All applications are subject to current underwriting guidelines and credit approval. EHL NMLS#280412

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