Real Estate Broker · Milwaukee County, WI · Member since 2014 · 89 posts · 38 votes
Check out this completely updated 50-unit apartment building in the heart of Milwaukee. Interior features units that have been meticulously updated, new boiler system and water heaters(currently being installed). Keep your property safe and secure a new security camera monitoring system for inside and outside with direct access from the Milwaukee Police Department. Exteriors features include a brand new roof, all new steel exterior doors and off-street parking. In addition, the Seller is incentivizing the sale by offering a 6-month rent guarantee that will cover all non-occupied units at the time of closing. Please contact me for more details.
Property is located near downtown Milwaukee with access to public transportation. Closet cross streets are north Teutonia Avenue and west Locust Street.
Real Estate Broker · Milwaukee County, WI · Member since 2014 · 89 posts · 38 votes
9y
Hi Adam,
Thank you for your interest! The building is currently at 52% occupancy rate. The owner weeded out the problem tenants, updated the units, hired a new PM company and is now leasing up again. As he realizes this current rate will not be attractive to most, I reiterate the incentive of covering the rents of all non-occupied units at closing for six months. This will allow the new owner the ability to stabilize without sacrificing the loss of rental income due to vacancies.