119 Walnut StAppleton, WI 54911

This exceptional 7-unit apartment building, located in the heart of downtown Appleton, Wisconsin, presents a compelling investment opportunity. The property boasts 6,632 square feet and features a mix of unit sizes, including five 1-bedroom/studios and one spacious 3-bedroom apartment. A significant portion of the apartments have undergone recent remodeling (2022-2024), enhancing their appeal and rental potential. Further improvements include extensive masonry repairs and partial roof replacement within the last two years. The building also includes a leased warehouse space and a garage, providing additional income streams. Ample parking is available for all tenants. The property sits on a prime downtown Appleton lot, zoned CBD, ensuring strong tenant demand. The current cap rate stands at 8.2%, projected to increase to 9.24% in March 2025 due to scheduled rent increases. This is a rare opportunity to acquire a well-maintained, income-producing multifamily property in a thriving Wisconsin city. The asking price is $559,000, representing a price per unit of $79,857.14 and a price per square foot of $84.29. The building was constructed in 1892 and is a two-story structure. This property offers a blend of historical charm and modern updates, making it an attractive investment for both seasoned and emerging real estate investors.