5682-5686 Norfolk Dr - Apartments FOR SALE


Fitchburg, WI 53719
$1,400,000 USD
608-333-7734
5682-5686 Norfolk Dr, Fitchburg, WI for Sale
$1,400,000 USD
Apartments - FOR SALE
1/8
null | 5.3% Cap Rate

5682-5686 Norfolk Dr
Fitchburg, WI 53719


HIGHLIGHTS

  • Two four-unit buildings with spacious two-bedroom, two-bath layouts, some with lofts.
  • In-unit washer and dryer in all apartments for tenant convenience.
  • Attached garages for select units, including two-car and one-car options.
  • Located on a 3.08-acre lot in Fitchburg, minutes from Madison and major highways.
  • Strong rental history with current annual gross rents of approximately $136,956.

OVERVIEW

This eight-unit multifamily property offers a strong investment opportunity in Fitchburg, WI, a growing community just minutes from downtown Madison. The asset consists of two well-maintained four-unit buildings situated on a 3.08-acre lot, providing ample space and privacy for residents. Each building features a mix of two-bedroom, two-bath units, with select units including loft areas for added living space. All units are equipped with in-unit laundry, and several units offer attached garages, enhancing tenant appeal and retention. The property benefits from municipal water and sewer services and is located within the Verona School District, a desirable feature for families. With a current Net Operating Income of approximately $74,151 and a market cap rate of 5.3%, this property presents stable cash flow and long-term upside potential. Fitchburg’s proximity to major employment centers, retail amenities, and transportation corridors makes this an attractive location for renters, ensuring consistent occupancy and income growth.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$144 USD /SF

# OF UNITS

8

PRICE/UNIT

$175,000

CAP RATE

5.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1993

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,134 SF

ZONING

MF

APN/PARCEL ID

0609-063-0423-4,0609-063-0434-1

ASK ABOUT THIS PROPERTY

Ben Filkouski, CCIMMadison Commercial Real Estate LLCMore Info
608-333-7734

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Ben Filkouski, CCIMMadison Commercial Real Estate LLCMore Info
608-333-7734

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