Multi-Unit Apartment/Commercial Suite Property - 109-131 East Washington Street, Stoughton, WI

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Multi-Unit Apartment/Commercial Suite Property109-131 East Washington Street, Stoughton, WIInvestment Offering

Chris EtmanczykDirect: (608) 327- 4004Cell: (608) [email protected]

The information contained herein is based on estimates and assumptions and is presented for illustration purposes only. No representations, warranties or guarantees of any kind are made.

Ryon SavastaDirect: (608) 327- 4007Cell: (608) [email protected]

Property DescriptionGreat investment opportunity in downtown Stoughton, WI. This mixed-use property features 10 apartment units and 3 commercial suites. Located one block off of Main Street, the property was built in 2003 and features a brick facade that blends seamlessly with the surrounding historic buildings. The residential occupancy has been nearly 100% over the last 7 plus years.

Location Description Stoughton is a city in South-central Wisconsin. It straddles the Yahara River about 20 miles southeast of the state capital in Madison. Stoughton is known for its Norwegian heritage and hosts a citywide celebration of Syttende Mai, the Norwegian constitution day. Sale Price: $925,000







Framing Class D type wood or metal structural frame.

Foundation Partial basement with footprint of 24’x82’ = 1,968 sq. ft; 100%.

Roof: Mostly flat with rubber membrane. Electric warming coils for snow/ice.

Exterior:Brick veneer and hardy board on the front portions; wood siding with painted surface on the back side.

Windows: Fixed storefront type with insulated glass on the first floor.

Appliances:

Appliance package consists of refrigerator/freezer, oven/range with fan/hood, garbage disposal, built-in microwave and dishwasher. 2 bed units also have stackable washer/dryer. Coin-operated laundry is located on the 2nd floor for the 1 bed units and efficiency.

HVAC:Individual natural gas fired forced air furnaces and central air for each unit; rooftop units for commercial spaces.

Electrical: Total power supply of 1,600 amps with 125 amp service to each unit.

Construction Overview

Sale Price: $925,000CAP Rate: 6.2% (Proforma available)NOI: $57,335

Building Amenities:10 Fully leased apartments3 Leased commercial properties22 Off-street parking stalls

Building Size: 12,299 sq. ft.Year Built: 2003Land Area: .41 acres

Property Overview

Unit # Type Size (SF)213 Commercial 1,500209 Commercial 1,546109 Commercial 930113 2 Bed/1 Bath 1,064115 2 Bed/1 Bath 1,064117 1 Bed/1 Bath 840119 2 Bed/1 Bath 1,132121 1 Bed/1 Bath 735

Gross Size Per Condo Plat

Unit # Type Size (SF)123 1 Bed/1 Bath 735125 1 Bed/1 Bath 735127 1 Bed/1 Bath 735129 Efficiency 452131 1 Bed/1 Bath 735N/A Storage Locker 96Total 12,299







W. Main St.

E. Washington St.

North St.

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Yahara River

Stoughton Cinema Cafe

Post Office

Library

Police Department

To Madison







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Radius 1 Mile 3 Mile 5 Mile

2020 Projection 8,083 16,773 20,133

2015 Population 7,813 16,127 19,348

2010 Census 7,713 15,831 18,990

Households:

2020 Projection 3,435 6,915 8,328

2015 Households 3,303 6,620 7,970

2010 Census 3,217 6,414 7,722

2015 Owner Occupied 61.0% 64.6% 67.1%

2015 Renter Occupied 32.8% 29.4% 26.1%

2015 Average Household Income $67,015 $74,244 $77,610

2015 Income by Household:

<$15,000 5.6% 5.0% 4.5%

$15,000 - $24,999 7.5% 6.9% 6.2%

$25,000 - $34,999 9.6% 8.0% 7.7%

$35,000 - $49,999 13.4% 12.2% 12.4%

$50,000 - $74,999 17.8% 17.3% 17.1%

$75,000 - $99,999 21.7% 20.2% 19.7%

$100,000 - $149,999 18.2% 21.3% 21.7%

$150,000 - $199,999 4.1% 5.9% 6.7%

$200,000+ 2.0% 3.3% 4.1%

Stoughton, WI

Multi-Unit Apartment/Commercial Suite Property - 109-131 East Washington Street, Stoughton, WI

Real Estate

Transcript of Multi-Unit Apartment/Commercial Suite Property - 109-131 East Washington Street, Stoughton, WI