Lake Winnebago Property For Sale

Lakefront Home in Neenah, WI for Sale

Price Reduced from $284,900 to $274,900! Rare Opportunity to Own a Multi-Family on Lake Winnebago in Neenah, WI. Property has separate parcel of approximately 1/2 acre of land with a separate structure with six one car garages. Each tenant rents a garage for an additional $35/month (included in the rent prices listed below). The other three garages are rented as well (two at $25/month and one at $35/month).

This lakefront Neenah property can be used as a three family or a four family as lower unit has five bedrooms, three full baths with a door between them. Currently using the lower as two separate units. One is currently owner-occupied and the other is rented as a nightly/weekly vacation rental. 2009 Gross Vacation Rental By Owner Income was $17,720.00.

Lower Unit Property Details and Income:

Download my current rental pro-forma by clicking here.

Three Bedroom; Two Full Bath as Vacation Rental Unit

  • Peak Season (Memorial to Labor Day) $200 per night; Off-Season (Labor to Memorial Day) $125/night
  • All furnishings in this unit are available for purchase at an additional cost
  • Owner Pays Heat, Electric, Cable and Internet
  • Central Air installed 2008
  • Many updates have been done **download entire list of Updates done at Rickers Bay Road**
  • Appliances Included with Sale: Dishwasher, Stove, Fridge, Stackable Washer/Dryer

Lower Unit (Rear); Two Bedrooms, One Full Bath

  • Currently owner occupied; will be rented on a month to month lease as of July 1, 2010
  • July 1st lease (month to month): $703.33/rent. Includes: heat, hot water, electric, cable/internet, attached garage.
  • Appliances Included: Stove, Fridge, Stackable/Washer Dryer
  • Central Air installed 2008

Upper Lake Facing Apartment; Two Bedrooms, One Full Bath

  • $678.33 monthly rent – no utilities included.
  • New living room carpet, kitchen and bath vinyl installed April 2010
  • Water Heater replaced 2009
  • No Central Air – tenants responsible for their own window AC
  • Appliances included: Stove (w/microwave), fridge, portable dishwasher, washer/dryer

Upper Street Facing Unit; Two Bedrooms, One Full Bath

  • Gross Rent $688.33 less $65 discount for snow/lawn care. Net Rent $623.33 – no utilities included
  • Appliances included: Stove, Fridge
  • No Central Air – tenants responsible for their own window AC

Overview of Lake Winnebago Apartment features.

Notes Regarding the Vacation Rental by Owner Unit:

Should you want to continue renting the lower unit as a vacation rental unit I will turn over all paid advertisements I have at HomeAway, VRBO, VacationRentals.com and ForGetAway. $7,200 in secured reservations for 2010, possibly will have remaining weeks rented as well. 2009 gross income on just the vacation rental unit was $17,720.00.

State of Wisconsin requires 5% State Sales Tax to be collected on all stays that are less than 30 days. $10.00 per year for the required seller’s permit.

List of all property updates since I’ve owned the property in Oct. 2006. Current Rental Pro-Forma.

Set Up An Appointment with My Realtor by Filling Out the Contact Form Below

Your Name (required)

Your Email (required)

Phone

Subject

Your Message