
Making a Market for Apartments
State Line Listings

Pine Terrace Portfolio
$4,350,000
Units: 52
The Pine Terrace Portfolio consists of four multifamily properties totaling 52 units located in Walworth County. The offering features 22 One Bedroom units and 30 Two Bedroom units in desirable residential communities. Recent capital improvements include new roofs, appliances, vinyl siding, and windows. Properties are listed individually and can be sold as a package. Contact broker for details.
Closed

North View
$2,250,000
Units: 24
North View Apartments is a 24-unit apartment property located on the east side of Janesville. The property was built in 1995-1996 and is comprised of three identical 8-unit buildings with 24 detached garages and 28 parking stalls. Rents at North View are below market and have room for significant rent upside. By leveling rents to market, the property should produce 13%+ leveraged cash returns and total returns in excess of 21%.
Closed

West Meadows
$1,150,000
Units: 16
West Meadows is a 16-unit apartment property located in Edgerton, WI. The 2.76 acre property is comprised of 8 one-bedroom units, 8 two-bedroom units and 42 outdoor parking stalls. Over $220,000 in capital improvements have been completed since 2016 including a new electrical system, sidewalks and patios, improved grading and drainage and all new entry and basement doors. West Meadows is a well-maintained property offered by the original developer, with significant upside due to very low in-place rents.
Closed

Hillside Apartments
$1,800,000
Units: 20
The Hillside Apartments, located in Burlington, is a 20-unit apartment property with all two bedroom units. There are five separate sections in the building, each containing 4-units with a double-wide hallway creating a semi-private environment that enhances the overall rental appeal. Hillside Apartments offer an exceptional rental value with in-place rents $175 below competing area properties. The Hillside Apartments offer immediate 8.5% cash-on-cash returns in a tight rental market with a shortage of work-force housing. By leveling rents to market, the property should produce 15% to 17% leveraged cash-on-cash returns and total returns in excess of 23%.
Closed

Mt. Zion Apartments
$1,200,000
Units: 16
Mt. Zion Apartments is a 16-Unit property comprised of two 8-Unit buildings on the east side of Janesville. The property is located just 1 mile east of Milton Avenue near Mercy Clinic East with easy access to I-90/39, Hwy 14 and downtown. Recent capital improvements include a new roof (2018), parking lots (2014 & 2019), windows (2015) and vinyl siding. All apartments are corner units and have 2 bedrooms with modern kitchens. Current rents are priced $100+ on average below market!
Closed

Cranston Terrace
Units: 48
Cranston Terrace is a senior-designated market-rate apartment conveniently located near Beloit Memorial Health Campus, CVS, Piggly Wiggly, shopping and restaurants. The property is comprised of two 24-unit buildings, featuring a mix of sixteen one bedroom and thirty-two two bedroom units. The buildings have undergone extensive capital improvements including new roofs, boilers, and a resurfaced parking lot. Current rents are priced well-below market comparables, and by adjusting rents to market, the property can produce annual returns of 20-25%.
Closed

Lincoln Apartments
$1,300,000
Units: 16
Lincoln Apartments is a 16-unit property comprising of two 8-unit buildings built in 1986 and 1997. Each apartment is a 2-bedroom, 1-bathroom unit featuring modern kitchens, open floorplans, and semi-secluded decks. Recent capital improvements include roofs (2015) and the parking lot for the Lincoln Street building (2017). The current owner has also replaced many of the water heaters and furnaces. The property offers great value for the submarket, creating immediate 10% cash-on-cash returns.
Closed

Marshall School
Units: 55
Marshall School Apartments is an award-winning, Section 42 redevelopment project of a former high school into 55 apartment units located on the Rock River in downtown Janesville. The property currently supports 22 market rate apartments, and with LURA expiring in 10 years on 33 units, there is significant rent upside. Individual units feature one-of-a-kind floorplans, full-kitchen appliance packages, walk-in closets, and central air conditioning and heating. This is a very unique investment opportunity located in a diverse and resurging downtown Janesville with low market vacancies.
Closed
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Cotton Mills
Units: 47
Cotton Mills is a 47-unit apartment property located in Janesville, WI. The property was originally a mill that was converted to rental housing in 1985 as part of a historic renovation. The property features a variety of floorplans, high ceilings, oversized windows, open kitchens, intercom access entries, coin-operated laundry, and on-site parking.
Closed

Woodlane
Units: 24
Woodlane Townhomes is a 24-unit apartment property developed in circa 1972 and located one block from Milton Avenue on the northeast side of Janesville, WI. The property is comprised of 2
Bedroom/ 1 ½ Bath townhomes that feature a fully equipped kitchen appliance package, separate utilities, basement, washer & dryer hook-ups, central air, and a private patio.
Closed

Jefferson School
Units: 35
Jefferson School Apartments are a 35-unit apartment property in the City of Jefferson, WI. Formally home to the area middle school, the property underwent a major, historic renovation as
part of a Section 42 tax credit rehabilitation program in 2001. Unit amenities include: loft ceilings and oversized windows, spacious floor plans, full central air conditioning. Ample outdoor parking is also available.
Closed

Rock Bay Harbor
Units: 97
Rock Bay Harbor is a 97-unit apartment building Beloit, Wisconsin. The property is comprised of one three-story property, along with ample outdoor parking and a gazebo. Each apartment is furnished with a patio or balcony, and full kitchen. The property also features heated underground parking stalls, an on-site office, community room with full kitchen, and on-site
laundry. Rock Bay Harbor is a well-maintained property designated for seniors with a superior the growing demographic of senior renters, the property is poised for future rent growth and strong occupancies for investors.
Closed
Recent Closings

Beloit
$3,000,000
48-unit Apartment

Janesville
$2,850,000
47-unit Apartment

Elkhorn
$1,300,000
16-unit Apartment