48-Unit Apartment Complex, Marinette, WI- $2,650,000

Property Description

This large section 8 multi-family property includes tremendous income potential!  Current HAP contract results in an outstanding cap rate of 8.25%.  Please contact brokers for details regarding the HAP & LURA contracts.

Marinette Woods Apartments is located in an area which includes an estimated population of 18,024 within a 5-mile radius and 25,968 within a 10-mile radius.  The property is situated less than a half mile from a major commercial corridor which provides significant employment opportunities for residents.

The property consists of 2 buildings which are located on a 2.97-acre site. They contain a mix of 2 bedroom/1 bathroom (50%) and 3 bedroom/2 bathroom units (50%).  The floorplans are large and attractively designed.  Also included with the property are a total of 48 refrigerators and 48 ranges.

 

Details