9 Unit Apartment Complex For Sale

Description:

Exceptional investment opportunity in Prairie du Chien! This well-maintained 9-unit apartment complex is in excellent condition and ready for new ownership. Each one-bedroom, one-bath unit features a newly tiled shower, fresh paint, new flooring, some new refrigerators & stoves, wall air conditioning in each unit, & electric baseboard heat. Tenants enjoy furnished common areas—with a gas fireplace, kitchen-style sink area, and all furniture included—plus an inviting outdoor patio with seating also included in the sale. Additional amenities include off-street parking, onsite storage, and two-year-old coin laundry for added income. With a strong rental history, prime location, and minimal upkeep, this property offers investors a turnkey asset with reliable long-term potential.Financials:

Current NOI: $74,000

Current Rents: 6 units @ $650/month | 3 units @ $750/month
• 1 higher-rent units currently vacant and freshly painted; advertising underway

Lease Terms: All month-to-month; rents due for increase on $650 units

Security Deposits: Five of six occupied units with $500 deposits, 2 units with a $750 Security deposit

Operating Expenses:

Owner pays: water, electric, gas, cable, garbage, exterior maintenance
• Cable: $120/month (all 9 units)
• Electric/Gas: $586 (last month)
• Garbage: $130/month
• Lawn Care & Weed Control: approx. $160/month
• Snow Removal: approx. $50-100/month (varies with snowfall)

Property Insurance: approx. $3,500/year approximately

Property Taxes: just under $11,000/year

Property Features:

Coin-operated laundry (2 years old): 2 washers & 2 dryers

Newly tiled showers in all units

Wall-unit A/C in all units

Several units updated with stainless steel refrigerators & stoves

12 off-street parking spaces

Onsite storage units (currently no charge to tenants)