Woodland park

Lake Delton, Wisconsin

$21,600,000

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192

$900/month

 

Property Highlights
Offered by Original Developer

All Units Feature Private Entries and In-Unit Laundry

Attached & Detached Garages

Best-In-Class Luxury Apartments

Positioned for Strong Topline Revenue Growth

Investment Overview

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Woodland Park Apartments is an immaculately well-maintained 192-unit multifamily property developed in 2002-2004 on 40.6 acres of land in the village of Lake Delton, Wisconsin. Located in a private and wooded residential neighborhood, the properties were built in 2 phases and share private roads. Woodland Park I is comprised of 3 two-story apartment buildings and 4 detached garage buildings, for a total of 40 units with 36 detached stalls. There are 17 units at the property set to 60% county median income (CMI) rent and income levels and encumbered by a Land Use Restriction Agreement (LURA) that expires on December 31, 2032. The remaining 23 units are entirely 'market-rate' units, not subject to rent or income restrictions. Woodland Park II is comprised of 11 two-story apartment buildings and 11 detached garage buildings, for a total of 152 'market-rate' units with 136 detached stalls. Woodland Park is a turnkey, signature multifamily opportunity providing superior unit and common areas amenities and significant economies of scale rarely available in the Wisconsin market with rapidly increasing housing costs and a shortage of affordable housing. Therefore, the property is uniquely positioned to produce strong topline revenue growth for the next investors.