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706 Faryl Ave Delavan, WI 53115
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Daniel Bertelson
danielbertelsonbroker@chime.meOur team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $675,000
Property Type Multi-Family
Sub Type Apartment building
Listing Status Sold
Purchase Type For Sale
Square Footage 1,508 sqft
Price per Sqft $447
Subdivision Lot 1 Csm 1439
MLS Listing ID 1923443
Sold Date 07/11/22
Bedrooms 3
Full Baths 2
Year Built 1986
Annual Tax Amount $10,598
Tax Year 2020
Lot Size 2.842 Acres
Acres 2.842
Property Sub-Type Apartment building
Property Description
2 16 unit apartment buildings in the city of Delavan. Tenants pay electric heat. Large 2.8 acred lot. Good investment property. Sixteen 1 bedroom units & sixteen 2 bedroom units. Room for garages. The 4 washers & 4 dryers are leased. Property is in USDA Rural Development Low Income Housing Program. Property is required to stay in this program until 5/7/2036. This program allows renting only to low income tenants. Rents are controlled, Profit is limited to $3,925/yr, must be professionally managed. Purchase: NO NEW LOAN can be taken upon this property. Buyer assumes the present mortgage (approx $100k bal.) and brings CASH to Closing equal to difference between PURCHASE PRICE and MTG BALANCE; eg, $575k. See Documents for details.
Location
State WI
County Walworth
Area Delavan - C
Zoning RM-12
Direction From Hwy 11 in Delavan, go south on Wright St to Phoenix St, go right to Faryl Ave, go let on Faryl Ave.
Rooms
Basement None, Poured concrete foundatn
Interior
Heating Radiant
Heat Source Electric
Exterior
Parking Features 2 spaces, Outside
Utilities Available Separate elec meters
Building
Water Municipal sewer, Municipal water
Structure Type Wood,Brick
Schools
Elementary Schools Call School District
Middle Schools Call School District
High Schools Delavan-Darien
School District Delavan-Darien
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This information, provided by seller, listing broker, and other parties, may not have been verified.
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Daniel Bertelson