Bought with RE/MAX Lakeside-Central
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W220N9009 Town Line Rd Lisbon, WI 53051
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Key Details
Sold Price $1,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 1888464
Sold Date 10/04/24
Year Built 1940
Annual Tax Amount $7,581
Tax Year 2023
Lot Size 5.290 Acres
Acres 5.29
Property Description
This tremendous Multi-Family property generates cash flow with 9.5 cap rate, low vacancy and sits on 5.29 acres in the Town of Lisbon. The property consists of 5 buildings (14 units) & 36 outside parking spaces. Units w/similar layouts include; living room, kitchen, dining area, 2 BRs & 1 BA. Since 2020 seller has done extensive updates on the property including; new roof on all buildings (2023), updated approx. 12 units with new cabinets, appliances, countertops, flooring, bathrooms, new asphalt for parking lots, 1 new septic system & many units w/new mechanicals, windows, & all exterior doors. Property has potential for more development w/5.29 acres of land & rent increase. Tenants pay gas, electric & heat. Great location & minutes from shopping, entertainment & the freeway system.
Location
State WI
County Waukesha
Zoning Multi Family
Rooms
Basement Crawl Space
Interior
Heating Forced Air, Natural Gas
Cooling Forced Air, Natural Gas
Flooring Unknown
Exterior
Exterior Feature Vinyl
Garage Outdoor Space
Building
Water Private Well, Septic System
Schools
Middle Schools Templeton
High Schools Hamilton
School District Hamilton
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