MLS# 1538204 - $1,175,000
105 3rd AVE - Osceola WI 54020 Commercial - 0.28 Acres
Property Description
$1,175,000 | Commercial # 1538204 | 105 3rd AVE - Osceola, WI
ONCE IN A LIFETIME OPPORTUNITY TO OWN THIS FIRE-PROOF BUILT HISTORIC 20-UNIT BUILDING! ONCE THE HOTEL OSCEOLA, NOW A RENOVATED MARKET RATE APARTMENT COMPLEX. CURRENT AVERAGE IN PLACE RENTS OF $662 W/ HUGE POTENTIAL TO INCREASE RENTS TO MARKET $775 PER UNIT. STEAM BOILER WAS REPLACED IN 2009, HALF OF THE WINDOWS REPLACED IN 2010. 12 OF THE 20 UNITS HAVE BEEN RENOVATED TO MARKET STANDARDS. TWO OF THE REMAINING EIGHT APTS. NOT RENOVATED ARE GOING THROUGH A COMPLETE DEMO/RENOVATION SET TO BE COMPLETED BEFORE A POTENTIAL CLOSING IN EALRY SPRING. SELLER'S MOTIVATION IN SELLING IS A 1031 TAX EXCHANGE. SEE MARKETING PACKET FOR MORE DETAILS. NEW ROOF 2020 AND PARKING LOT RESURFACED 2020
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