Lake Country Apartments 23920 Nyberg Rd 24 Unit Apartment Building $5,304,261 CAD ($221,011 CAD/Unit) 6.49% Cap Rate Siren, WI 54872

Marcus & Millichap is pleased to present Lake Country Apartments, a multifamily residential community located in Siren Village, Wisconsin.
Constructed in 2023, the property consists of 24 two-bedroom, one-bathroom apartments across three eight-unit buildings situated on
approximately five acres. Complementing the residential buildings are three garage structures, each with eight enclosed stalls, providing ample
parking and tenant convenience. With all units fully leased prior to completion and a demonstrated waitlist of over 150 applications for the initial
building, the property reflects extremely strong demand fundamentals in a high-barrier rental market.
The apartments average 782 square feet and feature open floor plans, decks or patios, waterproof laminate flooring, plush carpet, in-unit washer/
dryer, hickory cabinetry, sound-dampening between walls and ceilings, and energy-efficient appliances, including dishwasher, microwave, stove,
and refrigerator/freezer. Additional property amenities include fiber internet access, Trex decking, LP SmartSide 30-year siding, architectural
shingle roofs, “dusk-to-dawn” lighting, on-site pet areas, and built-in grills. Tenants are responsible for electric, water, and sewer, contributing to
highly efficient operations with low maintenance. Moreover, the property’s brand-new construction ensures minimal near-term capital
expenditures while offering expansion potential, with approvals already in place for two additional eight-unit buildings and possible entitlement
for a larger 30-unit development. With Wisconsin’s housing shortage anticipated to persist, Lake Country Apartments provides investors with a
stable, income-producing asset and a path to long-term growth.