Stabilized 34-Unit (Multifamily + Commercial) with New Roof & Proven Cash Flow
Smart investors: welcome to 1639 Douglas Ave in Racine, WI—a stabilized and cash-flowing multifamily investment with immediate income and long-term upside. This 34-unit property (plus a rentable commercial suite) has maintained consistently strong occupancy, and offers future rent growth potential through light operational improvements.
32 residential units + 2 commercial units (one of which is being used as property management office)
New roof installed in 2023 – major capex item off the table
Monthly gross rent: $17,700, with room to grow
10.76% cash-on-cash return, 8.82% cap rate, and 1.45 debt coverage ratio
Forecasted 18.2% IRR and strong long-term equity growth
Professional management in place and willing to stay on for a seamless transition