505 Alan Drive, Mount Horeb, WI 53572
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505 Alan Drive, Mount Horeb, WI 53572
505 Alan Drive, Mount Horeb, WI 53572
505 Alan Drive, Mount Horeb, WI 53572
505 Alan Drive, Mount Horeb, WI 53572
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Alexander Dempsey

Alexander Dempsey

+1(715) 681-2879
Listed by Ken Brenner • Stark Company, REALTORS
$ 1,325,000
Est. payment /mo
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505 Alan Drive Mount Horeb, WI 53572

8 Beds

0.32 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Municipality MOUNT HOREB

MLS Listing ID 2017059

Bedrooms 8

Year Built 1976

Annual Tax Amount $14,286

Tax Year 2024

Lot Size 0.320 Acres

Acres 0.32

Property Description

Well-maintained 8-unit brick apartment building with additional commercially zoned land included, offering future development or expansion potential. This property presents multiple value-add and long-term upside opportunities. The building itself is fully leased with year-to-year leases in place, providing immediate and stable cash flow. Recent capital improvements include a newer roof, updated mechanical systems, and a newer coin-operated laundry system for supplemental income. Each unit features separate electric meters, helping keep operating expenses efficient and transparent. Tenants benefit from basement storage units, adding everyday functionality and desirability. The property also offers a surface outdoor parking lot for convenient tenant parking. Solid brick construction, consistent rental history, and excess commercially zoned land make this a compelling opportunity for investors seeking income today with flexibility for future growth.

Location

State WI

County Dane

Zoning R3

Rooms

Basement Full

Interior

Interior Features Water Softener

Heating Other

Cooling Radiant/Electric

Inclusions 8 Stoves, 8 Refrigerator/Freezers, 8 Air Conditioners, 1 Water Softener, 2 Coin-Operated Washers and Dryers.

Exterior

Exterior Feature Brick

Utilities Available Separate Electric Meters

Building

Dwelling Type Apartment Building,2 Story

Story 1 - 2

Sewer Municipal Water, Municipal Sewer

New Construction N

Schools

Elementary Schools Mount Horeb

Middle Schools Mount Horeb

High Schools Mount Horeb

School District Mount Horeb

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505 Alan Drive