Burma 24 Apartments

McFarland, Wisconsin

Price:


Units:

Bedrooms:

Avg. Rent/Bedroom:

Gross Multiple:

Price/Bedroom:

$2,100,000


24

48

$739/month

9.7 / 8.1


$43,750

​Featured Listing

Investment Highlights

Tenant-Paid Utilities (Except W/S)

 

12 Minutes to Downtown Madison

Stable Dane County Community with High Quality of Life

 

Low-Maintenance Brick Exteriors

Few Blocks from McFarland High School and Lake Waubesa

 

Property Overview

Burma 24 Apartments, located in the Village of McFarland, WI, is comprised of three adjacent 8-unit apartment buildings built circa 1966 on a total of 1.122 acres, with each building on its own parcel of land. Each lot has outdoor parking available for the residents, with a total of 39 stalls.

 

All apartments are Two Bedroom One Bathroom layouts, an open kitchen concept, and bedrooms featuring hardwood floors. The units are ample size at 850 square feet. Updates include 6-8 units that have been renovated with kitchen and bathroom upgrades, all roofs replaced in 2006 and windows replaced in 1999. Tenants pay heat, hot water, electricity and air conditioning. The landlord is responsible for water/sewer, trash removal and common area electricity. The heat is provided by individual, gas-fired forced air furnaces. Rents per bedroom average $739 per month. These are among the lowest 2 bedroom rents in the submarket and offer an exceptional rental value, with average in-place rents that are $125-$150 below comparable properties, providing for immediate rent upside.

Nearby Attractions

  • Kwik Trip: 3 Blocks

  • Culver's: 5 Blocks

  • Lake Waubesa: 6.5 Blocks

  • Pick 'n Save: 8 Blocks

  • Walgreens: 9.5 Blocks

  • Walk Score: 53

  • Bike Score: 62

Location & Investment Upside

Burma 24 Apartments offers extremely affordable rents in the highly desirable Village of McFarland with continued and steadily increasing rental housing demand.  The in-place rents at the Subject Property are among the lowest in the submarket, allowing the next Owner an add-value opportunity to immediately charge higher rents and reach solid overall returns of 14%-15% annually.

 2011 - 2018

Dean Realty Group, Inc. 

1667 Capital Avenue, Madison, Wisconsin 53705