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Listed by Geoffry Stuhr • Smart Asset Realty Inc
$ 1,295,000
Est. payment /mo
Active
1639 Douglas AVENUE Racine, WI 53404
0.4 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality RACINE
MLS Listing ID 1930004
Year Built 1928
Annual Tax Amount $18,577
Tax Year 2024
Lot Size 0.400 Acres
Acres 0.4
Property Description
Stabilized 34-Unit (Multifamily + Commercial) with New Roof & Proven Cash Flow. Smart investors: welcome to 1639 Douglas Ave, Racine, WI--a stabilized and cash-flowing multifamily investment with immediate income and long-term upside. This 34-unit property (plus rentable commercial suite) has maintained consistently strong occupancy, & offers future rent growth potential through light operational improvements. 32 Residential units + 2 Commercial units (one is management office). New roof 2023 - major capex item off the table. Monthly gross rent: $17,700 & room to grow. Professional management willing to stay on for seamless transition.
Location
State WI
County Racine
Zoning B-2 mixed use
Rooms
Basement Partial
Interior
Heating Electric
Cooling Individual Heating Units
Inclusions 1 Refrigerator and Oven/Range per unit.
Equipment Seller Leased: Dryer, Seller Leased: Washer, Seller Leased: Water Heater
Exterior
Exterior Feature Brick/Stone, Brick, (C) Stucco, Stucco/Slate, Wood
Building
Dwelling Type Apartment Building
Story 1 - 2
Sewer Municipal Sewer, Municipal Water
New Construction N
Schools
School District Racine
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