1639 Douglas Ave Racine, WI 53404
The 9th Ward NeighborhoodEstimated payment $8,339/month
About This Home
Stabilized 34-Unit (Multifamily + Commercial) with New Roof & Proven Cash Flow. Smart investors: welcome to 1639 Douglas Ave, Racine, WIa stabilized and cash-flowing multifamily investment with immediate income and long-term upside. This 34-unit property (plus rentable commercial suite) has maintained consistently strong occupancy, & offers future rent growth potential through light operational improvements. 32 Residential units + 2 Commercial units (one is management office). New roof 2023 - major capex item off the table. Monthly gross rent: $17,700 & room to grow. Professional management willing to stay on for seamless transition.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,577
Home Design
- Brick Exterior Construction
- Stucco Exterior
Additional Features
- Partial Basement
- 0.4 Acre Lot
Community Details
- Operating Expense $85,038
- Net Operating Income $114,618
Listing and Financial Details
- Exclusions: Seller and Tenant Personal Property
- The owner pays for sewer, water, electric/public
- Assessor Parcel Number 19301000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $18,577 | $724,500 | $46,900 | $677,600 |
| 2023 | $17,005 | $630,000 | $46,900 | $583,100 |
| 2022 | $16,865 | $630,000 | $46,900 | $583,100 |
| 2021 | $16,489 | $548,000 | $46,900 | $501,100 |
| 2020 | $16,174 | $548,000 | $46,900 | $501,100 |
| 2019 | $15,442 | $522,000 | $46,900 | $475,100 |
| 2018 | $18,330 | $0 | $0 | $0 |
| 2017 | $14,789 | $450,000 | $46,900 | $403,100 |
| 2016 | $15,112 | $450,000 | $46,900 | $403,100 |
| 2015 | $19,194 | $450,000 | $46,900 | $403,100 |
| 2014 | $19,194 | $450,000 | $46,900 | $403,100 |
| 2013 | $19,194 | $600,000 | $52,800 | $547,200 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/06/2025 08/06/25 | For Sale | $1,295,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $670,000 | Chicago Title Waukesha |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $536,000 | Purchase Money Mortgage |
Source: Metro MLS
MLS Number: 1930004
APN: 276-000019301000
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