HOT OFF MARKET 4 Unit In A+ Condition
3800 Southwood Dr. Racine, WI 53406
$112,500 Per Unit
** Buyer's Premium Waived
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Purchase at target price with 20% down payment. Upon lease expirations, raise rents to market rate. Refinance and pull cash out based on higher value of the property.
About The Property
Incredible opportunity to pick up four rowhouse-style units in beautiful Racine, Wisconsin. The fourplex consists of all 3-bedroom units, each with its own basement. Two of the units were built as an extension in 2006 and the other 2 have undergone a recent full remodel. The mechanicals including the furnace and boilers are relatively new and in excellent condition. The building comes with 10 parking spaces and is located on a corner lot within a quiet community. The property is strongly rented however there is an opportunity to raise rents given the lack of high-quality rental options currently on the market in the area
About The Neighborhood
Racine is mid-size coastal town in southeast Wisconsin, 22 miles south of Milwaukee and 70 miles north of Chicago. With a population of 78,000, it has a diverse economy of tourism, manufacturing and corporate offices. Multinational chemical company SC Johnson & Son is headquartered in Racine along with Dremel Corp, JI Chase and Reliance Controls Corp. Founded in 1834, Racine has distinct roots from Denmark with many immigrants settling in the area pre-WWI. Today the town is known for its Danish pastries as well as its vast outdoor areas including North Beach which was included in USA Today’s list of “51 Great American Beaches”. It is also home to several Frank Lloyd Wright buildings and large-scale shopping complexes.
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Purchase Price of Property
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