Tom Gavin

Please reload the page to update with the latest MLS information available.

Please reload the page to update with the latest MLS information available.

Please reload the page to update with the latest MLS information available.

Reload
 
Listing provided courtesy of Stark Company, REALTORS- MLS# 2017059MLS ProviderContact Information: Pref: 608-345-9496

505 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.

Love this property?
Create a profile so you can receive updates on this property as soon as they happen!
View Map

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
Community data courtesy of LiveBy, Inc.

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.
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

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
Calculations provided by Reliance Network

505 Alan Drive History

Date Event Value Agent
4/6/2026Source: South Central Wisconsin MLS Price Reduction
$1,325,000 -3.6%
2/23/2026Source: South Central Wisconsin MLS Added to Database
February 23, 2026
7/28/2025Source: South Central Wisconsin MLS Added to Database
March 31, 2022