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20235434
20235435

215 N Webster Ave, Green Bay, WI 54301

PS
IL: 475.179485
Marcus & Millichap - Chicago Downtown
Listed by Marcus & Millichap - Chicago Downtown
$5,150,000
610 days on market
Updated 21 days ago

Whitney Lofts

Details
Property Type Multifamily
Sub Type Apartment Building
Units 23
Cap Rate 6.18%
NOI $318,423
Occupancy 100%
Class A
Buildings 1
Stories 2
Acreage 5.000

23 unit Class A property with HUD loan assumption

Marketing description

Marcus & Millichap is pleased to offer the Whitney School Lofts Apartments located in downtown Green Bay, WI. Completely renovated in 2020, this property sits on 1.48 acers of land located at 215 N Webster Ave. This multifamily opportunity has gone through significant improvements that include high efficiency heating and cooling, new electrical, new plumbing, high end fitness center, and large outdoor and entertainment space. Whitney school lofts are considered to be some of the highest quality units in the green bay market that feature stainless steel appliances, quartz counters, in-unit washer and dryers’ floor-to-ceiling windows, refurbished wood floors, tall ceilings with unique open floor style units. This 23-unit luxury apartment building consists of twelve 1-bed 1-bath units, nine 2-bed 1.5-bath units, and two 2-bed 2-bath units.

Located within walking distance of downtown, Whitney School Lofts offer residents an excellent balance of a vibrant city lifestyle while maintaining neighborhood charm. The property sits right behind main street and a few blocks away from the fox river. Green Bay is a thriving city with a current population of over 107,000. Green Bay has had 10 years of positive growth and is the third largest city in the state behind Milwaukee and Madison with a metro population of over 250,000.

U.S.News & World Report called Green Bay "The perfect mix of big-city amenities complemented with a Midwestern, small-town feel." Ranking it the #1 best places to live in 23-24. Top employers include Bellin Health and Schneider National which both have their corporate headquarters in Green Bay with Bellin HQ being a mile from this property. Property is in walking distance to Whitney dog Park, CVS, Downtown Green Bay, Brown County Central Library, YMCA, and many restaurants, bars, grocery stores. This is a rare opportunity to have a extremely well built property in a phenomenal location and market.

Investment highlights

- Located in Downtown Green Bay, the Third Largest City in Wisconsin

- 2020 Renovated Property

- Healthy Mix of 12 One-Bedrooms & 13 Two-Bedrooms

- Stabilized Property, Currently 100 Percent Occupied with Great Historical Occupancy

- Luxury Units with High-End Appliances, Quartz Counters, In-Unit Washer and Dryers, and Floor-to-Ceiling Windows

- High-End Amenities, Gym, Outdoor Space, Pet Friendly, 24/7 Maintenance, and 54 Parking Spaces

Listing Contacts

PS
IL: 475.179485
Marcus & Millichap - Chicago Downtown
Listed by Marcus & Millichap - Chicago Downtown

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$318,423.00
$26,535.25/mo

Valuation Metrics

0
DSCR
6.18%
Cap Rate
6.18%
ROI

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Additional Information

Name
Todd Lindblom
License
WI 56163
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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