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5800 3rd Ave
Kenosha, WI 53140
Lakeside Towers Apartments · Multifamily Property For Sale
·
182 Units
Investment Highlights
- 182 Units | 100% Projected-Based 8 | Elderly Designated Housing
- Located in a Qualified Census Tract (130% basis) for Low Income Housing Tax Credit rehabilitation
- 20-Year, Option 2, HAP Contract Renewal in 2010 (Expires March 31, 2030
- Over $400,000 of recent property improvements including lobby remodeling and boiler replacement
Executive Summary
Lakeside Towers presents a rare opportunity to acquire a fully stabilized, elderly designated, 100% project-based Section 8 property. Located on the shore of Lake Michigan in downtown Kenosha, this 10-story, 182-unit senior housing tower enjoys a prime location with lakefront views, strong community amenities, and a long-term HUD HAP contract in place through March 2030. With steady income backed by federal subsidy, below-market rents, and a limited supply of comparable properties, Lakeside Towers offers durable cash flow, downside protection, and long-term investment stability.
Property Facts Under Contract
| Sale Type | Investment | Building Size | 147,040 SF |
| No. Units | 182 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 10 |
| Property Subtype | Apartment | Year Built | 1980 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.63/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 2.17 AC | ||
| Zoning | RM-2 | ||
| Sale Type | Investment |
| No. Units | 182 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 2.17 AC |
| Building Size | 147,040 SF |
| Average Occupancy | 97% |
| No. Stories | 10 |
| Year Built | 1980 |
| Parking Ratio | 0.63/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-2 |
Amenities
Unit Amenities
- Heating
- Kitchen
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 182 | - | 500 |
Property Taxes
| Parcel Number | 12-223-32-352-010 | Improvements Assessment | $18,169,880 CAD |
| Land Assessment | $1,607,425 CAD | Total Assessment | $19,777,305 CAD |
Property Taxes
Parcel Number
12-223-32-352-010
Land Assessment
$1,607,425 CAD
Improvements Assessment
$18,169,880 CAD
Total Assessment
$19,777,305 CAD
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