Chicago, IL 60622
Park View Apartments, nestled in the quiet neighborhood surrounding Hawthorne Park in Janesville, Wisconsin is a great opportunity for steady investment. The setting for Park View is idyllic with grand, stately oak trees and an expansive lawn area. Typically appealing to a senior demographic, Park View has been a destination for residents seeking efficient living and access to important amenities like shopping, medical offices, hospitals and pharmacies. Tenants enjoy this asset’s boutique feel, and it shows via high retention rates and long rental tenure as a result.
This is truly a "bread and butter" opportunity for investors seeking low risk and strong returns. This is coupled with the opportunity to convert the asset into a more "senior specific" use giving a new investor multiple executions. In addition, current ownership has secured favorable, assumable agency financing at record-low interest rates, which allows new ownership to generate great returns immediately.
Janesville, WI 53545
Nestled among a lush landscape, including sweeping willow trees and a large, peaceful pond with multiple fountains, Waterleaf Apartments sprawls across 22 acres in the popular Greentree neighborhood of Madison. The asset is a perfect value-add opportunity that affords an owner the ability to renovate units and add amenities. Comprising 176 one-, two- and three bedroom units, Waterleaf Apartments provides endless options to increase value. Until recently, Waterleaf Apartments was encumbered by a LURA (Land Use Restrictive Agreement) with rent restrictions. However, now that the building is fully unrestricted, ownership has begun to push rents on renewals and new leases. A new investor will be able to continue this practice and implement a strategic value-add strategy that could include interior renovations and additional amenities and upgrades. Both the submarket and Madison itself experiences srong rent growth and high occupancies. Rent growth over the past three years has averaged 2.7% and occupancies have hovered around 95%, allowing for long term growth and strong returns.
Madison, WI 53711