Property Description:
Opportunity Overview
There are 5 buildings for sale on Timber Terrace which are four-plex configuration with three (3) bedrooms in each unitThere is 1 building for sale on 6th Street E that is a three-plex with four (4) bedrooms in each unit and located 2 blocks away from UW-Stout campusLeases are 12 monthsTenants are typically college studentsOccupancy rates are consistent and predicable, landlord has never had an unplanned vacancy50% of units are under lease starting June 1, 2019Rent charged per bedroom is increasing to $450 per bedroom starting June 1st 2019 and is reflected below.
Property Highlights
Over 50% of all units have newly upgraded LVP flooringUnits that do not have LVP flooring have a commercial grade carpetAll units include washer/dryer and dishwasherCeramic tile in many bathrooms and some kitchensAll leases include utilities: cable, internet, garbage service, water/sewer, electric, heatAll leases include lawn care and snow removalTwo (2) units have been newly remodeled and upgraded which include: granite countertops, Kohler sinks, stainless steel appliances, laminate flooring and new carpetAll units have central heat and airAll Timber Terrace units offer 2 car attached garages with openersMost units offer deck or patio and private backyardsTimber Terrace units back up to wooded area