Listing provided courtesy of Stark Company, REALTORS- MLS# 2017059
Contact Information: Pref: 608-345-9496
Contact Information: Pref: 608-345-9496Images
Request Info505 Alan DriveMount Horeb, WI 53572
Multi-Family · 0.32 Acres$1,325,000
Active
505 Alan Drive Overview
- Time on Site:
- 126 days
- Visits:
- 27
Well-maintained 8-unit brick apartment building with additional commercially zoned land included, offering future development or expansion potential. This property presents multiple value-add and long-term upside opportunities. The building itself is fully leased with year-to-year leases in place, providing immediate and stable cash flow. Recent capital improvements include a newer roof, updated mechanical systems, and a newer coin-operated laundry system for supplemental income. Each unit features separate electric meters, helping keep operating expenses efficient and transparent. Tenants benefit from basement storage units, adding everyday functionality and desirability. The property also offers a surface outdoor parking lot for convenient tenant parking. Solid brick construction, consistent rental history, and excess commercially zoned land make this a compelling opportunity for investors seeking income today with flexibility for future growth.
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505 Alan Drive Facts & Features
- Type Multi-Family
- Lot 0.32 Acres
Details
General
School Information
- Elementary School: Mount Horeb
- Middle Or Junior School: Mount Horeb
- High School: Mount Horeb
Building Information
- Water/Waste: Municipal sewer, Municipal water
- Year Built: 1976
Location/Region
- County Or Parish: Dane
- Location: MOUNT HOREB - V
- Postal City: Mount Horeb
Rent/Lease Information
- Unit 2 Monthly Rent: $1,200.00
- Unit 3 Monthly Rent: $1,165.00
- Unit 4 Monthly Rent: $1,150.00
Tax Information
- Tax Annual Amount: $14,286.00
- Tax Assessed Value: $897,300.00
- Tax Year: 2024
General Information
- Inclusions: 8 Stoves, 8 Refrigerator/Freezers, 8 Air Conditioners, 1 Water Softener, 2 Coin-Operated Washers and Dryers.
- Miscellaneous: Shared laundry, Water Softener Owned
- Parcel Number: 0606-121-0255-3
- Property Type: Multi Family
- Sub-Type: Apartment building, 2 story
- Zoning: R3
Unit Information
- Unit 1: Family/Rec rm, Eat-in kitchen, Air conditioning, Range/oven, Refrigerator, Individual heat control, Separate Storage Unit Inc, Shared basement
- Unit 2: Family/Rec rm, Eat-in kitchen, Range/oven, Refrigerator, Separate Storage Unit Inc, Individual heat control, Shared basement
- Unit 3: Family/Rec rm, Eat-in kitchen, Air conditioning, Range/oven, Refrigerator, Separate Storage Unit Inc, Individual heat control, Shared basement
- Unit 4: Family/Rec rm, Eat-in kitchen, Air conditioning, Range/oven, Refrigerator, Separate Storage Unit Inc, Individual heat control
Interior
Building Information
- # Furnaces: 0
- Heating Fuel: Other
Beds/Baths
- Number of 2 Bedrooms: 8
Building Interior
- # Stoves: 8
- # Water Heaters: 1
General Information
- Basement: Full
Unit Information
- Unit 1 Monthly Rent: $1,195.00
- Unit 2 Parking: 1 Space
- Unit 3 Parking: 1 Space
- Unit 4 Parking: 1 Space
- Unit 1 Parking: 1 Space
- Unit 1 # Bedrooms: 2
- Unit 2 # Bedrooms: 2
- Unit 3 # Bedrooms: 2
- Unit 4 # Bedrooms: 2
- Unit 1 Full Baths: 1
- Unit 1 Half Baths: 0
- Unit 2 Full Baths: 1
- Unit 2 Half Baths: 0
- Unit 3 Full Baths: 1
- Unit 4 Full Baths: 1
- Unit 1 Primary Bedroom Level: M
- Unit 1 Primary Bedroom Dimension: 12x10
- Unit 1 Kitchen Dimension: 10x10
- Unit 1 Living/Great Room Level: M
- Unit 1 Living/Great Room Dimension: 15x10
Exterior
Parking Information
- Parking Stalls Inside: 0
Lot Information
- Lot Size Acres: 0.32
Building Exterior/Construction
- Construction Materials: Brick
General Information
- Number Of Units Total: 8
- Utilities: Separate elec meters
505 Alan Drive Neighborhood
Community
53572 (Mount Horeb) Demographics
42
Median Age
110
Population Density (per sq. mile)
63%
College Educated
$60,327
Estimated Median Income
3,979
Estimated Total Home Owners
1,012
Estimated Total Renters
80% / 20%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.505 Alan Drive Monthly Cost
505 Alan Drive Market Data
Based on the last 30 days in this zip code
$622,964
Average List Price
$268
Average Price per Square Foot
15
Properties Sold
123
Average Days on Market
59
Properties for Sale
505 Alan Drive History
| Date | Value | Agent |
|---|---|---|
| 4/6/2026Source: South Central Wisconsin MLS | $1,325,000 -3.6% |
|
| 2/23/2026Source: South Central Wisconsin MLS | February 23, 2026 |
|
| 7/28/2025Source: South Central Wisconsin MLS | March 31, 2022 |