top of page
Making a Market for Apartments
.jpg)
PRICE: $3,950,000
UNITS: 64
BEDROOMS: 134
AVERAGE RENT: $762/Mo.
NO. of BLDGS: 4
YEAR BUILT: 1971 & 1985
West Dean & Good Hope
Milwaukee, Wisconsin
Featured Listing
PROPERTY OVERVIEW:
West Dean & Good Hope Apartments is an opportunity to purchase 64-units in a stable Milwaukee submarket, with extensive recent updates. Having completed the majority of the exteriors and roofs, high-efficiency HVAC, and modernized LED lighting, the operating costs will be dramatically reduced for the next owners, while revenues should continue to increase due to the significant interior updates.
Good Hope Apartments
A 40-unit apartment property that consists of two 2-story buildings, built in 1971 and 1985. Each apartment has a fully-equipped kitchen appliance package, spacious floor plans and a patio or balcony. The buildings have pitched asphalt shingle roofs, brick and vinyl siding, attractive landscaping, ample parking and coin-operated laundry (leased) on each floor. The building built in 1971 is heated via electric base board heat & cooled by sleeve A/C units. The other building has central heat and A/C by forced air “Magic Paks”. Both roofs have been replaced since 2008. Good Hope features a mix of 2 & 3-bedroom apartments in which tenants pay heat, hot water, electricity, cable and internet. Rent includes trash removal, water & sewer.
West Dean Apartments
A 24-unit apartment property with extensive renovations in two nearly identical 12-unit buildings. They both sit on 1.32 acres of land and were originally built in 1976. West Dean Apartments has wood frame construction, brick & vinyl exterior, pitched asphalt shingle roofs, full basements with coin-operated laundry (leased), attractive landscaping and ample parking. The property has undergone extensive capital improvements including new roofs (2013), gutters (2013), boilers (2014), and windows & siding (2014). 11 apartments have had completely updated kitchens with new cabinets, flooring and appliances. The combination of these recent updates and internal rent upside offers the next owner a turnkey property with increasing cash flows. Each apartment is a spacious 2 bedroom layout, in which tenants pay for electricity, cable and internet. Rent includes heat, hot water, trash removal, water & sewer.
bottom of page