505 Alan Dr Mount Horeb, WI 53572
Estimated payment $8,274/month
Highlights
- Eat-In Kitchen
- Outdoor Storage
- Water Softener is Owned
- Mount Horeb Intermediate School Rated A-
- Central Air
- Family Room
About This Home
Well-maintained 8-unit brick apartment building with additional commercially zoned land included, offering future development or expansion potential. This property presents multiple value-add and long-term upside opportunities. The building itself is fully leased with year-to-year leases in place, providing immediate and stable cash flow. Recent capital improvements include a newer roof, updated mechanical systems, and a newer coin-operated laundry system for supplemental income. Each unit features separate electric meters, helping keep operating expenses efficient and transparent. Tenants benefit from basement storage units, adding everyday functionality and desirability. The property also offers a surface outdoor parking lot for convenient tenant parking. Solid brick construction, consistent rental history, and excess commercially zoned land make this a compelling opportunity for investors seeking income today with flexibility for future growth.
Listing Agent
Stark Company, REALTORS Brokerage Phone: 608-345-9496 License #59073-90 Listed on: 02/23/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,286
Year Built
- Built in 1976
Parking
- 10 Open Parking Spaces
Home Design
- Brick Exterior Construction
Interior Spaces
- 2-Story Property
- Family Room
Kitchen
- Eat-In Kitchen
- Oven or Range
Basement
- Basement Fills Entire Space Under The House
- Shared Basement
Schools
- Mount Horeb Elementary And Middle School
- Mount Horeb High School
Utilities
- Central Air
- Radiant Heating System
- Separate Meters
- Individual Controls for Heating
- Water Softener is Owned
Additional Features
- Outdoor Storage
- 0.32 Acre Lot
Community Details
- 8 Units
- Laundry Facilities
Listing and Financial Details
- Assessor Parcel Number 0606-121-0255-3
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 | $14,286 | $897,300 | $129,700 | $767,600 |
| 2023 | $13,756 | $897,300 | $129,700 | $767,600 |
| 2022 | $10,632 | $513,500 | $129,700 | $383,800 |
| 2021 | $10,564 | $513,500 | $129,700 | $383,800 |
| 2020 | $10,296 | $513,500 | $129,700 | $383,800 |
| 2019 | $10,404 | $513,500 | $129,700 | $383,800 |
| 2018 | $10,176 | $513,500 | $129,700 | $383,800 |
| 2017 | $9,242 | $433,900 | $102,600 | $331,300 |
| 2016 | $8,495 | $433,900 | $102,600 | $331,300 |
| 2015 | $8,029 | $433,900 | $102,600 | $331,300 |
| 2014 | -- | $433,900 | $102,600 | $331,300 |
| 2013 | $8,371 | $433,900 | $102,600 | $331,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/23/2026 02/23/26 | For Sale | $1,375,000 | +31.0% | $430 / Sq Ft | |
| 05/12/2023 05/12/23 | Sold | $1,050,000 | -4.5% | $328 / Sq Ft | View Prior Sale |
| 03/13/2023 03/13/23 | Pending | -- | -- | -- | |
| 02/28/2023 02/28/23 | For Sale | $1,100,000 | +37.5% | $344 / Sq Ft | |
| 10/29/2021 10/29/21 | Sold | $800,000 | 0.0% | $250 / Sq Ft | View Prior Sale |
| 09/15/2021 09/15/21 | For Sale | $799,900 | +55.8% | $250 / Sq Ft | |
| 06/20/2016 06/20/16 | Sold | $513,500 | -2.2% | $160 / Sq Ft | View Prior Sale |
| 04/15/2016 04/15/16 | Pending | -- | -- | -- | |
| 04/13/2016 04/13/16 | For Sale | $525,000 | -- | $164 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,050,000 | None Listed On Document | |
| Warranty Deed | $800,000 | Knight Barry Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $735,000 | Credit Line Revolving | |
| Previous Owner | $640,000 | Commercial |
Source: South Central Wisconsin Multiple Listing Service
MLS Number: 2017059
APN: 0606-121-0255-3
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