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Colonial Gardens
1973 Colony Ct Beloit, WI 53511
Listing Type: Multi-Family
Sale or Lease: Sale
Size: 140,000 SF
Price: $5,400,000
Unit Price: $5,400,000
Max Contiguous: 1,020 SF
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1973 Colony Ct Beloit, WI 53511 - Presented by Mark Lithall
Property Details
Listing Type: Multi-Family
Sale or Lease: Sale
Size: 140,000 SF
Price: $5,400,000
Unit Price: $5,400,000
Max Contiguous: 1,020 SF
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Property Description

Colonial Gardens consists 90 apartments, housed in 9 buildings, one building is rental office/pool cabana, buildings containing efficiency, one,two and three bedroom units ranging in size from 500-1020sq ft. located on the north side of Beloit close to transportation, entertainment and shopping.Mercy hospital is with walking distance. Boilers in all buildings are new as well as all hot water tanks, entrance way doors, intercom systems, hallway carpeting, 95% new carpeting in units, 95% new refrigerators and roofs. Each building has laundry facilities in basement. Units are air conditioned by sleeve in wall units and either have patio/balcony. Mansard roofs and on site management. Brittany 1 & ll (72 units across the street) can be purchased along with Colonial Gardens. Brittany 1 & ll cannot be purchased without purchasing Colonial Gardens.

Highlights

  • Professionally maintained and managed
  • Outdoor swimming pool with changing room cabana
  • Heat water and trash included in rent
  • Studio, 1, 2 and 3 bedroom apartments
  • Abundant closets and cable TV
  • Tennis courts and basketball court

Property Location Map View Large Map

Area Description

Centrally located on the north side of Beloit. Area has a suburban feeling as well as a country feeling. Complex abuts corn fields as well as steps from Mercy hospital but expressways, shopping and entertainment are all within a 3 mile distance.

Overview

Property Use: Single Use
Lot Size: 2
No. Of Stories: 2
Year Built: 1974
Price Per Unit: $5,400,000
Renovated Year: 1993

Finance

Gross Income: $742,110
Scheduled Income: $742,110
Net Operating Income: $458,612
Taxes: 92,000
Tax Year: 2008
Cap Rate: 10
Expenses: $219,050
Down Payment: $1,350,000

Features

Exterior Description: Each building is constructed of brick with mansard roofs.
Zoning: multifamily
Construction Description: Solid brick construction

Contact Us

Mark Lithall
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