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925 W Gorman St

Elkhorn, WI 53121
  • $655,000
  • STATUS: Active
  • ON SITE: 16 Days
  • ID#: 1923893
UPDATED: 60 min ago
$655,000
  • 0
    BEDS
  • 2.58
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1983
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:
Listing courtesy of Century 21 Affiliated Pfister

Description

32 unit apartment complex in Elkhorn. 16-1 bedroom, 14-2 bedroom, 2-3 bedroom units. Tenants pay electric heat. Large 2.5 acre lot. 4 washers and 4 dryers are leased. Property is in the USDA Rural Development Low Income Housing Program. Property is required to stay in the RD program until 12/6/2033. This RD program allows renting only to low income tenants. Rents are controlled. Profits limited to $3,304 per year. Must be professionally managed. Purchase: NO NEW LOANS can be taken on this property. Buyer assumes current mortgage of (approx. $17K balance) and brings cash to closing equal to difference between purchase price and mortgage balance. See documents for details.

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© 2021 South Central Wisconsin MLS Corporation. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or HomeTeam4u | Stark Company Realtors. Data last updated: 2021-12-03T22:41:28.14.
www.hometeam4u.com/homes/123324497
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925 W Gorman St Elkhorn, WI 53121

  • Price: $655,000
  • Status: Active
  • On Site: 16 Days
  • Updated: 60 min ago
  • ID#: 1923893
0
Beds
0
Baths
0
½ Baths
2.58
Acres
1983
Built
Neighborhood:
Elkhorn - C
County:
Walworth
Area:
Elkhorn - C
Elementary School:
Call School District
Middle School:
Elkhorn Area
High School:
Elkhorn Area
School District:
Elkhorn
Property Description
32 unit apartment complex in Elkhorn. 16-1 bedroom, 14-2 bedroom, 2-3 bedroom units. Tenants pay electric heat. Large 2.5 acre lot. 4 washers and 4 dryers are leased. Property is in the USDA Rural Development Low Income Housing Program. Property is required to stay in the RD program until 12/6/2033. This RD program allows renting only to low income tenants. Rents are controlled. Profits limited to $3,304 per year. Must be professionally managed. Purchase: NO NEW LOANS can be taken on this property. Buyer assumes current mortgage of (approx. $17K balance) and brings cash to closing equal to difference between purchase price and mortgage balance. See documents for details.
Exterior Features

Exterior WoodBrick Type Apartment Building2 Story Unit1 Parking 1 Space Unit2 Parking 2 Space Unit3 Parking 2 Space

Interior Features

Basement NonePoured Concrete Foundatn Clothes Dryers 0 Clothes Washers 0 Dish Washers 0 Heating Type Radiant Number Of Efficiencies 0 Number Of One Bedrooms 16 Number Of Three Plus Beds 2 Number Of Two Bedrooms 14 Refrigerators 30 Stoves 32 Unit1 Eat-In KitchenRange/OvenRefrigeratorIndividual Heat Control Unit1 Bedrooms 1 Unit1 Full Baths 1 Unit1 Half Baths 0 Unit1 Kitchen Dim 9X12 Unit1 Living Great Room Dim 12X13 Unit1 Master Bedroom Dim 10X12 Unit1 Sq Ft 750 Unit2 Eat-In KitchenRange/OvenRefrigeratorIndividual Heat Control Unit2 Bedroom2 Dim 10X11 Unit2 Bedrooms 2 Unit2 Full Baths 1 Unit2 Half Baths 0 Unit2 Living Great Room Dim 12X13 Unit2 Master Bedroom Dim 10X12 Unit2 Sq Ft 858 Unit3 Eat-In KitchenRange/OvenRefrigeratorIndividual Heat Control Unit3 Bedrooms 3 Unit3 Full Baths 1 Unit3 Half Baths 0 Unit3 Sq Ft 950 Units With AC 0

Property Features

Association South Central Wi Barrier Free Ramped Or Level EntranceFirst Floor BedroomFirst Floor Full BathLevel DriveLevel LotWidth Of Hallways 42"+ City Town Or Village City County Quarter Walworth Nw Fuel Electric Furnaces 0 Legal Documents Income/Exp Report Avail Mailing City Elkhorn Miscellaneous Shared LaundryInternet - Cable Net Operating Income 5771 Net Taxes 6096 Open House No Park Unit 1 SpaceOutside Source Acreage Assessor Tax Year 2020 Total Expenses 180312 Total Income 186084 Unit1 Rent 490 Unit2 Rent 544 Unit3 Rent 597 Utilities Separate Elec Meters Water Heaters 4 Water Softeners 0 Water Waste Municipal SewerMunicipal Water Year Built Source Seller Zoning Rm-2

Listing information © 2021 South Central Wisconsin MLS.
Listing provided courtesy of Century 21 Affiliated Pfister.



© 2021 South Central Wisconsin MLS Corporation. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or HomeTeam4u | Stark Company Realtors. Data last updated: 2021-12-03T22:41:28.14.
 
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Listing courtesy of Century 21 Affiliated Pfister