State Line Listings

Cranston Terrace
$3,000,000

Units: 48

Cranston Terrace is a senior-designated market-rate apartment conveniently located near Beloit Memorial Health Campus, CVS, Piggly Wiggly, shopping and restaurants. The property is comprised of two 24-unit buildings, featuring a mix of sixteen one bedroom and thirty-two two bedroom units. The buildings have undergone extensive capital improvements including new roofs, boilers, and a resurfaced parking lot. Current rents are priced well-below market comparables, and by adjusting rents to market, the property can produce annual returns of 20-25%.

New Listing

Colony Court
$860,000
Units: 12

Colony Court is comprised of four adjacent 3-unit buildings built-in 1988-1991 located just north of Beloit Health system campus in Beloit, WI. The apartments feature private entry, detached garages, individual basements, laundry hook-ups, central heating & A/C, and dishwasher. All units have 2-bedrooms, and the rents are $150+ below market. Tenants pay all utilities.

New Listing

Lincoln Apartments
$1,300,000
Units: 16

Lincoln Apartments is a 16-unit property comprising of two 8-unit buildings built in 1986 and 1997. Each apartment is a 2-bedroom, 1-bathroom unit featuring modern kitchens, open floorplans, and semi-secluded decks. Recent capital improvements include roofs (2015) and the parking lot for the Lincoln Street building (2017). The current owner has also replaced many of the water heaters and furnaces. The property offers great value for the submarket, creating immediate 10% cash-on-cash returns.

Under Contract

Wells Street Apartments
$1,000,000
Units: 16

Wells Street Apartments is comprised of two adjacent 8-unit buildings built-in 1971 in a prime location less than 1 mile from downtown, Geneva Lake, and Big Foot State Park. All apartments have 2-bedrooms with modern kitchens. Wells Street Apartments offer an exceptional rental value and have in-place rents $100+, on average, below submarket comparables, providing for immediate rent upside.

Closed

Marshall School
$3,900,000
Units: 55

Marshall School Apartments is an award-winning, Section 42 redevelopment project of a former high school into 55 apartment units located on the Rock River in downtown Janesville. The property currently supports 22 market rate apartments, and with LURA expiring in 10 years on 33 units, there is significant rent upside.  Individual units feature one-of-a-kind floorplans, full-kitchen appliance packages, walk-in closets, and central air conditioning and heating. This is a very unique investment opportunity located in a diverse and resurging downtown Janesville with low market vacancies.

Closed

Cotton Mills
$2,850,000
Units: 47

Cotton Mills is a 47-unit apartment property located in Janesville, WI. The property was originally a mill that was converted to rental housing in 1985 as part of a historic renovation. The property features a variety of floorplans, high ceilings, oversized windows, open kitchens, intercom access entries, coin-operated laundry, and on-site parking.

Closed

Lakeview Drive
$625,000
Units: 8

Lakeview Drive is an 8-unit apartment property built in 1982 consisting of two adjacent 4-unit buildings located on the south side of Fort Atkinson. The property has had extensive recent 
updates including windows, parking lot, retaining wall, siding, most appliances, cabinets (6 units), patio doors (6 units), and entry doors (4 units). This is a turnkey opportunity that offers the potential for 15% leveraged cash-on-cash returns, with total 
returns exceeding 22%.

Closed

Woodlane
$1,800,000
Units: 24

Woodlane Townhomes is a 24-unit apartment property developed in circa 1972 and located one block from Milton Avenue on the northeast side of Janesville, WI. The property is comprised of 2 
Bedroom/ 1 ½ Bath townhomes that feature a fully equipped kitchen appliance package, separate utilities, basement, washer & dryer hook-ups, central air, and a private patio.

Closed

Jefferson School
$1,925,000
Units: 35

Jefferson School Apartments are a 35-unit apartment property in the City of Jefferson, WI.  Formally home to the area middle school, the property underwent a major, historic renovation as 
part of a Section 42 tax credit rehabilitation program in 2001. Unit amenities include: loft ceilings and oversized windows, spacious floor plans, full central air conditioning.  Ample outdoor parking is also available.

Closed

Canyon Drive
$1,350,000
Units: 28

Canyon Drive is located in Janesville, WI consisting of efficiency, one and two bedroom apartment homes. Built in 1977 & 1984, Canyon Drive consists of two identical 8-units and one 12-unit building. Rents average $50 under market. Property features a new roof on the 12-unit (2015), tenant paid utilities, tenant storage, coin operated laundry and an initial 15% cash-on-cash return!

Closed

Stuart Place
$575,000
Units: 9

Stuart Place is a 9-unit apartment built in 1997 and located on Janesville's east side. The property features deluxe 1 bedroom apartments with attached (2) and detached (7) garages, attractive open-concept layouts, washer & dryer hookups, tenant paid utilities and low maintenance brick and vinyl exterior.

Closed

Rock Bay Harbor
$5,200,000
Units: 97

Rock Bay Harbor is a 97-unit apartment building Beloit, Wisconsin.  The property is comprised of one three-story property, along with ample outdoor parking and a gazebo.  Each apartment is furnished with a patio or balcony, and full kitchen. The property also features heated underground parking stalls, an on-site office, community room with full kitchen, and on-site 
laundry. Rock Bay Harbor is a well-maintained property designated for seniors with a superior the growing demographic of senior renters, the property is poised for future rent growth and strong occupancies for investors.

Closed

Radiance Apartments
$720,000
Units: 16

Buildings built in 1972 in Janesville, Wisconsin. The property is being offered by long-term owners and features tenant paid utilities, low maintenance brick exterior, major capital 
improvements within the last 10 years and a great location with easy access to I-90 near Loglis Grocery, Planet Fitness and the Janesville Mall.

Closed

Recent Closings

$5,200,000

97-unit Apartment

Beloit

$575,000

9-unit Apartment

Janesville

$1,925,000

35-unit Apartment

Jefferson

 2011 - 2018

Dean Realty Group, Inc. 

1667 Capital Avenue, Madison, Wisconsin 53705