NOT LISTED FOR SALE

2615 5th Ave Stevens Point, WI 54481

Estimated Value: $3,318,375

1 Bed
1 Bath
-- Sq Ft
1.66 Acres

Last Sold October 30, 2015

Last sale price $1,575,000

Est. 111% increase in value since last sale

Current estimated payment $17,523/month

Highlights

  • Deck
  • Air Conditioning
  • Baseboard Heating
  • Walk-In Closet
  • Patio
  • Utility Room

About This Home

As of October 2015

East Point Apartments. Great location 40 Unit Apartment Complex located just east of the University of Wisconsin Stevens Point. Five 8 plex buildings all one bedroom apartments on the corner of Fifth, Fourth and Minnesota Avenues in Stevens Point.

Last Agent to Sell the Property

Peter Harris

FIRST WEBER License #38303-90 Listed on: 07/16/2015

FIRST WEBER

Last Buyer's Agent

Theodore Rude

KPR BROKERS, LLC License #58022-90

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $29,248

Year Built

  • Built in 1975

Lot Details

  • 1.66

Parking

  • 8 Car Garage

Home Design

  • Shingle Roof
  • Metal Construction or Metal Frame

Interior Spaces

  • Walk-In Closet
  • 2-Story Property
  • Window Treatments
  • Utility Room
  • Fire and Smoke Detector
  • Range
  • Basement

Outdoor Features

  • Deck
  • Patio

Utilities

  • Air Conditioning
  • Baseboard Heating
  • Separate Meters
  • Individual Gas Meter
  • Natural Gas Water Heater
  • Cable TV Available

Community Details

  • 40 Units
  • Laundry Facilities
  • Net Operating Income $152,562

Listing and Financial Details

  • Assessor Parcel Number 2408-28-3025-01

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$29,248

Year Built

Built in 1975

Lot Details

0

Listing Details

  • Additional Remarks: Lot size is 276 x 270 or 1.71 acres. Each unit is approximately 500 square feet with living room, kitchen, full bathroom and one bedroom with small walk-in closet. All units have Wall Air Conditioners. Tenants are responsible for heat which is electric baseboard, electricity, hot water that is natural gas. Owner pays for sewer and water. Majority of units rent at $410.00 per month for 12 month lease some at $430.00 per month ($20.00 extra per month for cat) and approximately 3 units at $500.00 per month on a 9 month lease. Total monthly rent is $16,860.00 per month beginning September 2015 with 100% occupancy. 18 Stall garage has laundry room with 6 sets of coin-op washers and dryers. Garage stalls rented as follows 2 @ $35.00, 1 @ $45.00, 13 @$40.00 and owner has 2 @$0.00. Total current monthly income is $635.00 per month for the garages. Additional separate two stall garage is used by owner as workshop and storage for repairs items. Well maintained complex with excellent rental history. Total yearly income for 2014 $202,911.00 and 2015 beginning in September is $212,600 that includes garage and laundry income. 2014 total expenses were $60,038.45. Please only serious qualified buyer’s. Contact listing agent for all showings.
  • Class: Multi-Family
  • Municipality: Stevens Point, City of
  • Style: 2 Story
  • Type: Complex
  • Year Built: 1975
  • Construction: Metal
  • Geo Subdivision: WI
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Refrigerator, Range
  • Basement: Yes
  • Interior: Smoke Detector, Cable Hookup, Window Treatments, Walk-In Closet(s)

Exterior Features

  • Roof: Shingle
  • Patio Deck: Deck, Patio

Garage/Parking

  • Garage Capacity: 8 or More

Utilities

  • Fuel Type: Electric
  • Heat Type: Baseboard
  • Sewer Water: Pb Sewer/Pb Water
  • Water Heater: Natural Gas
  • Water: Meter (s)
  • Electricity: Separate Meter
  • Gas: Separate Meter
  • Laundry: Available On Site
  • Sewer Included: Y
  • Separate Electricity: Y
  • Separate Heat: Y
  • Water Included: Y

Schools

  • Stevens Pt Area Sch Dist: Stevens Point A

Lot Info

  • Lot Size: 1.71 Acres
  • Zoning: Multi-Family
  • Present Use: Apartment Complex
  • Geo Address Line: 2615 5th Ave
  • Geo Primary City: Stevens Point
  • Geo Quality: 0.95
  • Geo Secondary City: Portage Co.

Rental Info

  • Annual Rent: 212,600

Tax Info

  • Tax Amount: 29,248
  • Assessor Parcel Number: 2408-28-3025-01
  • Tax Year: 2014

Multi Family

  • Number Of Units: 40

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 16, 2015
Closed on
Oct 30, 2015
Sold by
Igna Real Estate & Investment Llc
Bought by
Eastpoint University Housing, Llc
Seller's Agent
Peter Harris
FIRST WEBER
Buyer's Agent
Theodore Rude
KPR BROKERS, LLC
List Price
$1,650,000
Sold Price
$1,575,000
Premium/Discount to List
-$75,000
-4.55%
Current Estimated Value
$3,318,375

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,743,375
Avg. Annual Appreciation
7.69%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Eastpoint University Housing, Llc $1,575,000 --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/30/2015 10/30/15 Sold $1,575,000 -4.5% --
07/30/2015 07/30/15 Pending -- -- --
07/16/2015 07/16/15 For Sale $1,650,000 -- --
Source: Central Wisconsin Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

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 $405 $2,090,000 $157,600 $1,932,400
2023 $0 $2,090,000 $157,600 $1,932,400
2022 $39,993 $1,546,900 $117,700 $1,429,200
2021 $38,835 $1,546,900 $117,700 $1,429,200
2020 $38,646 $1,546,900 $117,700 $1,429,200
2019 $38,428 $1,546,900 $117,700 $1,429,200
2018 $35,803 $1,546,900 $117,700 $1,429,200
2017 $34,317 $1,546,900 $117,700 $1,429,200
2016 $29,857 $1,200,900 $160,000 $1,040,900
2015 $30,027 $1,200,900 $160,000 $1,040,900
2014 $29,249 $1,200,900 $160,000 $1,040,900
Source: Public Records

Agents Affiliated with this Home

  • Peter Harris

    Seller's Agent in 2015

    Peter Harris

    FIRST WEBER

    (715) 498-6688

    47 in this area

    150 Total Sales

    Peter Harris
    Section Image
  • Theodore Rude

    Buyer's Agent in 2015

    Theodore Rude

    KPR BROKERS, LLC

    (715) 340-3688

    2 Total Sales

    Theodore Rude
    Section Image
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Map

Source: Central Wisconsin Multiple Listing Service

MLS Number: 1504897

Central Wisconsin Multiple Listing Service

APN: 281-24-0828302501

Wisconsin Portage County Stevens Point 54481

2615 5th Ave, Stevens Point, WI

Not Listed for Sale

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