51,920 Square Foot Multi-Family Space For Sale @ 4310 Kennedy Drive

The portfolio includes five well maintained 8 family apartment buildings which are located in very close proximity to one another.

Location Description:
Located just west of North Green Bay Road in Caledonia, WI. Caledonia is a village in Racine County, Wisconsin. The population is 24,705. The residential community of Franksville is located within the village.

The Village of Caledonia is located in the northeast corner of Racine County on 48.7 square miles including 3.2 square miles of river and lake areas. Positioned between Lake Michigan and Interstate Highway I-94, Caledonia provides convenient access to area amenities & the Milwaukee to Chicago corridor.

Caledonia offers urban and rural life style choices with easy access to recreation, shopping, health care, and professional services. Residents enjoy efficient government services and a multitude of business & employment opportunities, transportation systems, educational options, cultural activities, professional sports, festivals, and special events.



Highlights:
■ Priced at an above market cap rate based on actual net operating income
■ Immediate opportunity to increase value with annual rent increases
■ Turn-key investment opportunity
■ No immediate CapEx needed
■ Strong rental demand neighborhood
■ Electric baseboard heating with separate thermostats in each room (zone heating) which is very clean and cheap to repair or replace.
■ Air conditioners are sleeve units (12000 btu) in the living rooms.
■ The tenants are responsible for heating and a/c costs.
■ Roofs on 4310,4314,4330,4334 were done in 1999 and 4400 was done in 2004 all with 30 year singles.
■ Owner pays water and sewer and tenants pay electric which includes heat.
■ Easy, simple and efficient management
■ Long-time owner is selling to prepare for retirement relocation
■ Properties have been very well cared for
■ One property has two units combined into one larger unit which explains the 39 total units
■ Great property landscaping
■ Properties back up to natural foliage and the Root River