FOREST HARBOR

76 Units

Middleton, WI

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​Forest Harbor is a 76-unit apartment property consisting of 4 two-story buildings built circa 1965-1968 on approximately 3.81 acres of land. It fronts Allen Boulevard just north of University Avenue in a highly visible location across from Marshall Park in Middleton. The surrounding area has undergone significant redevelopment along the University Avenue corridor. The unit mix includes 4 Studio apartments, 28 One Bedroom, and 44 Two Bedroom units. A large parking lot provides off-street parking for at least 103 vehicles. Forest Harbor is currently owned by a Madison-based nonprofit and operates as an affordable housing property, making it exempt from property taxes. Tenant incomes are limited to 80% of Dane County's median household income, resulting in rents among the lowest in the market. Upon sale, the property may be operated as 'market rate,' free from rent and income restrictions. In that case, it would be added to the assessment roll and subject to future property taxes based on its assessed value.