Priced at $440,000 per building or 2,640,000.00 for portfolio
Agents please add fee on topContact Jay Lohn [email protected] or 763-458-9542 to request flyer, answer questions or request a showing Opportunity Overview There are 5 buildings for sale on Timber Terrace which are four-plex configuration with three (3) bedrooms in each unit, built in 2000 There is 1 building for sale on 6th Street E that is a tri-plex with four (4) bedrooms in each unit and located 2 blocks away from UW-Stout campus Leases are 12 months Tenants are typically college students Occupancy rates are consistent and predicable, landlord has never had an unplanned vacancy 50% of units are under lease starting June 1, 2019 Rent charged per bedroom is increasing to $450 per bedroom starting June 1st 2019 and is reflected below.
Property Highlights - Over 50% of all units have newly upgraded LVP flooring
- Units that do not have LVP flooring have a commercial grade carpet
- All units include washer/dryer and dishwasher
- Ceramic tile in many bathrooms and some kitchens
- All leases include utilities: cable, internet, garbage service, water/sewer, electric, heat
- All leases include lawn care and snow removal
- Two (2) units have been newly remodeled and upgraded which include: granite countertops, Kohler sinks, stainless steel appliances,
laminate flooring and new carpet. - All units have central heat and air
- All Timber Terrace units offer 2 car attached garages with openers
- Most units offer deck or patio and private backyards
- Timber Terrace units back up to wooded area
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