Property Description for 706 Faryl Ave, Delavan, WI 53115
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.
- Number of Units: 32
- Type of Rental: Apartment building
- Year Built: 1986
- Taxes: $10,598
- Tax Year: 2020
- County: Walworth
- Elementary School: Call School District
- Middle School: Call School District
- High School: Delavan-Darien
- MLS Number: 1923443
Unit 1
- Beds: 1
- Baths: 1 f | 0 h | 0 q
- Parking: 2 Space
- Sq Ft: 650
Unit 2
- Beds: 2
- Baths: 1 f | 0 h | 0 q
- Parking: 2 Space
- Sq Ft: 858
Unit 3
- Beds: 0
- Baths: 0 f | 0 h | 0 q
- Parking:
- Sq Ft: 0
Unit 4
- Beds: 0
- Baths: 0 f | 0 h | 0 q
- Parking:
- Sq Ft: 0
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