1421 W Atkinson Ave 1429 Milwaukee WI 53206-2969 $744,000

Property Description

1421 W Atkinson Ave 1429 Milwaukee WI 53206-2969 - Rare opportunity to acquire 16, 1 bd/1bth, apartments in two adjacent buildings. Package deal only. Improvements in last 4 years include all NEW: two tear-off 3D roofs, fencing, exterior storage shed, Lorex IP system with 22 cameras, and interior renovations. Stabilized with excellent financials, good tenants, & well-run management.Value-add opportunities include raising rents (current $535 vs. neighborhood $575-$590); renting existing 16 basement storage units; and adding coin laundry. Scheduled annual gross rents: $102,720. Deposits equaling 1 month rent available. Low operational expenses for owner with tenants paying individually for gas & electric and having separate furnaces & water heaters. Owner pays for water, trash, and common areas electric. Parking in the back for 16 cars

Multi-Family
Status: Sold
Total Number of Units: 16
Unit Type 1 # of Units: 16
Unit Type 1 Avg Rent: $535
Unit Type 2 Avg Rent: $575
Outside Parking: 16
Est. Year Built: 1955
School District: Milwaukee
County: Milwaukee
Postal Municipality: Milwaukee
MLS#: 1795466
Listing Company: Century 21 Affiliated-Wauwatosa
Zip Code: null

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