All Forum Posts by: Joel Lemons

Investment Opportunity: 34-Unit Multifamily | High Cash

Flow | Fully Occupied

Address: 36089 Ferguson St, Independence, WI 54747

County, Wisconsin

Property Overview:

34 Total Units (Two 17-Unit Buildings)

• 32 x 2-Bedroom Units @ $1,100/month

• 2 x 1-Bedroom Units @ $850/month

County: Trempealeau

• Total Rent Income: $36,900/month | $442,800/year 🏗 Built in 2010 – Modern

construction

Updated Units – Well-maintained interiors

• New Roof (Installed 2 years ago)

• New Gutters (Being installed in the next two weeks)

Recent Upgrades:

Fully Occupied – Zero

vacancies + waiting list of tenants

Financial Breakdown:

Asking Price: $3,550,000

Projected NOI (Net Operating Income): Estimated at

$221,400 (assuming a conservative 50% expense ratio)

Cap Rate: ~6.2% (based on

estimated NOI)

Passive Laundry Revenue – Card-operated coin laundry contract

with a 60/40 profit split

Market Position:

• Strong Tenant Retention – Rental demand fueled by local employment hubs

(Ashley Furniture and other manufacturers)

• Limited Local Inventory – Few apartment complexes in the area mean consistent

demand

• Expansion Potential – Seller has considered acquiring adjacent lots for future

development

Additional Insights:

• Seller open to slight negotiation but prefers staying near asking price.

• Coin-op laundry passive income, with existing maintenance contract transferring

to the buyer.

• Strong rental history with tenants only leaving when needing larger family

housing.

Google Photos Link:

https://drive.google.com/drive/folders/1ZkncPaBCXS7klYpYb1dT...

e_link

Investment Summary:

This is a high-performing multifamily asset with stable cash flow, zero vacancies, and

strong tenant demand. Updated units and passive laundry revenue create additional

value, making this an excellent opportunity for investors looking for predictable cash

flow.