23920 Nyberg Rd - Apartments FOR SALE


Siren, WI 54872
$3,850,000 USD
262-364-1907
23920 Nyberg Rd, Siren, WI for Sale
$3,850,000 USD
Apartments - FOR SALE
1/29
null | 6.49% Cap Rate

23920 Nyberg Rd
Siren, WI 54872


HIGHLIGHTS

  • Desirable Two-Bedroom, One-Bathroom Units Averaging 782 SF with Modern Finishes and In-Unit Washer/Dryers
  • Fully Occupied with Extremely Strong Rental Demand
  • ±5 Acres of Land Featuring Green Space, Resident Amenities, and Expansion Potential for 16–30 Additional Units

OVERVIEW

Marcus & Millichap is pleased to present Lake Country Apartments, a multifamily residential community located in Siren Village, Wisconsin. Constructed in 2023, the property consists of 24 two-bedroom, one-bathroom apartments across three eight-unit buildings situated on approximately five acres. Complementing the residential buildings are three garage structures, each with eight enclosed stalls, providing ample parking and tenant convenience. With all units fully leased prior to completion and a demonstrated waitlist of over 150 applications for the initial building, the property reflects extremely strong demand fundamentals in a high-barrier rental market. The apartments average 782 square feet and feature open floor plans, decks or patios, waterproof laminate flooring, plush carpet, in-unit washer/ dryer, hickory cabinetry, sound-dampening between walls and ceilings, and energy-efficient appliances, including dishwasher, microwave, stove, and refrigerator/freezer. Additional property amenities include fiber internet access, Trex decking, LP SmartSide 30-year siding, architectural shingle roofs, “dusk-to-dawn” lighting, on-site pet areas, and built-in grills. Tenants are responsible for electric, water, and sewer, contributing to highly efficient operations with low maintenance. Moreover, the property’s brand-new construction ensures minimal near-term capital expenditures while offering expansion potential, with approvals already in place for two additional eight-unit buildings and possible entitlement for a larger 30-unit development. With Wisconsin’s housing shortage anticipated to persist, Lake Country Apartments provides investors with a stable, income-producing asset and a path to long-term growth.

FOR SALE DETAILS

PRICE

$3,850,000 USD

PRICE/SF

$205 USD /SF

# OF UNITS

24

PRICE/UNIT

$160,417

CAP RATE

6.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Country Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2023

PARKING SPACES

24

LAND DETAILS

LAND ACRES

5 AC

LAND SF

217,800 SF

ZONING

-

APN/PARCEL ID

07-181-2-38-16-18-1-02-000-011600

ASK ABOUT THIS PROPERTY

Daniel BowarMarcus & MillichapMore Info
262-364-1907

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Daniel BowarMarcus & MillichapMore Info
262-364-1907

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.