Cash flow, location, character... Don't sleep on this great downtown mixed use property. Over a 9 cap at acquisition with room to grow rents and find yourself sitting on a double digit cap rate in short order. 12 apartments, 2 storefronts, 2 storage areas and a garage gives an investor numerous avenues to generate income. Outstanding location in the heart of the 6th street corridor and adjacent to the Machinery Row land earmarked for future development. Beautiful brick building with masonry details from a bygone era of true craftsmanship. Retail is fully leased to 2 great users, a half-floor storage tenant and apartments are a breeze to keep fully occupied in a building with this location and beauty. Bring your buyers and make your offers, this one will have a big fan base for sure!
Closed
$880,000
614 6th STREET, Racine, WI 53403
--beds
--baths
--sqft
Multi Family, Apartment
Built in 1928
-- sqft lot
$915,100 Zestimate®
$--/sqft
$1,212 Estimated rent
Home value
$915,100
$714,000 - $1.22M
$1,212/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: August 23, 2024 at 06:56pm
Listed by:
Segal Goldman Realty Group*,
RE/MAX Service First
Bought with:
Devin Cain
Source: WIREX MLS,MLS#: 1880705
Originating MLS: Metro MLS
Originating MLS: Metro MLSFacts & features
Interior
Heating
- Natural Gas, Central Air, Hot Water/Steam
Cooling
- Central Air
Appliances
- Included: Seller Owned: Water Heater
Features
- Basement: Full
- Has fireplace: No
Property
Parking
- Parking features: Outdoor Space, Inside Parking, Outside
Lot
- Size: 5,227 sqft
Details
- Additional parcels included: 00022001
- Parcel number: 00027000
- Zoning: B4
- Special conditions: Arms Length
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Brick/Stone, Brick, Stone
Condition
- 21+ Years
- New construction: No
- Year built: 1928
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Racine
- Municipality: Racine
Price history
| Date | Event | Price |
|---|---|---|
| 8/13/2024 | Sold | $880,000-2.2% |
Source:  WIREX MLS #1880705 | ||
| 6/28/2024 | Contingent | $900,000 |
Source: WIREX MLS #1880705 | ||
| 6/22/2024 | Listed for sale | $900,000 |
Source: WIREX MLS #1880705 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $14,750 -4.4% | $550,000 |
| 2023 | $15,432 +4.7% | $550,000 +5% |
| 2022 | $14,738 -9.9% | $524,000 |
Find assessor info on the county website
Neighborhood: Downtown
Nearby schools
GreatSchools rating
- NAJanes Elementary SchoolGrades: PK-5Distance: 0.9 mi
- NAWalden Iii Middle SchoolGrades: 6-8Distance: 0.4 mi
- 3/10Case High SchoolGrades: 9-12Distance: 4.3 mi
Schools provided by the listing agent
- District: Racine
Source: WIREX MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$915,100
2% more+ $18,302
With Zillow Showcase(estimated)
$933,402