Island Glen Apartments — Sale in Cumberland, WI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cumberland, WI 54829

Photos

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Investment Figures

Cap rate
6.29%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Island Glen Apartments is a two-property, 32-unit acquisition opportunity in Cumberland, Wisconsin—a growing Barron County community along the US Highway 63 corridor, adjacent to the local hospital and high school. The newly constructed buildings total 27,830 square feet on 3.31 acres. 1900 Carlone Street is an 18-unit building completed in 2024—15,478 square feet on 1.69 acres. Its broad unit mix of (9) 2BR/1BA, (7) 1BR/1BA and (2) 3BR/2BA units captures every major renter segment. Two detached garage buildings provide enclosed parking. 1100 14th Avenue is a 14-unit building completed in 2023—12,352 square feet on 1.62 acres. Its mix of (13) 2BR/1BA and (1) 1BR/1- BA is concentrated in the market's deepest demand segment, simplifying leasing and turnover. Additionally, a 14-stall detached garage provides one stall per unit. Built to an identical standard, the properties operate as a single asset: wood-frame construction with upgraded LP Smart- Side/board-and-batten exteriors, luxury vinyl plank flooring, solid wood cabinetry with quartz countertops, full in-unit appliance packages with washer/dryer, and a private deck or patio for every unit. Each unit is separately metered with its own furnace, central A/C, water heater, and electrical panel—tenants pay all utilities. The combination of recent construction, attractive unit finishes, efficient operating characteristics, and strong renter appeal positions the portfolio as a compelling opportunity for investors seeking a high-quality multifamily asset with limited capital expenditure requirements and long-term income growth potential. Investment Highlights: • Newly Constructed 32-Unit Multifamily Portfolio Completed in 2023 and 2024 • Tenants Pay All Utilities Through Separate Metering Systems • Detached Garage Parking and Private Outdoor Space for Residents

Market Context

This multifamily in Cumberland, WI is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Cumberland, WI — view the full market.

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