For sale

Price cut: $50K (4/6)

$1,325,000

505 Alan Dr, Mount Horeb, WI 53572

8beds

3,200sqft

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Apartment

Built in 1976

-- sqft lot

$1,262,400 Zestimate^®

$414/sqft

$-- HOA

What's special

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.

30 days

147

5

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 4
Full bathrooms: 4

Heating

Other Fuel Type, Radiant, Individual Heat Control (Unit 1), Individual Heat Control (Unit 2), Individual Heat Control (Unit 3), Individual Heat Control (Unit 4)

Cooling

Air Conditioning (Unit 1), Air Conditioning (Unit 3), Air Conditioning (Unit 4)

Appliances

Included: Range/Oven (Unit 1), Refrigerator (Unit 1), Range/Oven (Unit 2), Refrigerator (Unit 2), Range/Oven (Unit 3), Refrigerator (Unit 3), Range/Oven (Unit 4), Refrigerator (Unit 4), Water Softener Owned
Laundry: Common Area

Features

Eat In Kitchen (Unit 1), Family/Rec Room (Unit 1), Separate Storage (Unit 1), Shared basement, Eat In Kitchen (Unit 2), Family/Rec Room (Unit 2), Separate Storage (Unit 2), Eat In Kitchen (Unit 3), Family/Rec Room (Unit 3), Separate Storage (Unit 3), Eat In Kitchen (Unit 4), Family/Rec Room (Unit 4), Separate Storage (Unit 4)
Basement: Full

Interior area

Total structure area: 3,200
Total interior livable area: 3,200 sqft

Property

Parking

Total spaces: 10
Parking features: 1 space
Details: Outside

Features

Levels: Two

Lot

Size: 0.32 Acres

Details

Parcel number: 060612102553
Zoning: R3

Construction

Type & style

Home type: MultiFamily
Property subtype: Apartment

Materials

Brick

Condition

Year built: 1976

Utilities & green energy

Sewer: Public Sewer
Water: Public
Utilities for property: Separate elec meters

Community & HOA

Location

Region: Mount Horeb

Financial & listing details

Price per square foot: $414/sqft
Tax assessed value: $897,300
Annual tax amount: $14,286
Date on market: 6/5/2026
Inclusions: 8 Stoves, 8 Refrigerator/Freezers, 8 Air Conditioners, 1 Water Softener, 2 Coin-Operated Washers and Dryers.
Total actual rent: 56520

Estimated market value

$1,262,400

$1.20M - $1.33M

$1,770/mo

Price history

Date	Event	Price
4/6/2026	Price change	$1,325,000-3.6%$414/sqft
Source: WIREX MLS #2017059 Report a problem
2/23/2026	Price change	$1,375,000+25%$430/sqft
Source: WIREX MLS #2017059 Report a problem
4/24/2023	Pending sale	$1,100,000$344/sqft
Source: WIREX MLS #1950767 Report a problem
3/15/2023	Contingent	$1,100,000$344/sqft
Source: WIREX MLS #1950767 Report a problem
2/28/2023	Listed for sale	$1,100,000+37.5%$344/sqft
Source: WIREX MLS #1950767 Report a problem
11/13/2022	Listing removed	--
Source: Zillow Rental Manager Report a problem
10/13/2022	Price change	$1,143+1.6%
Source: Zillow Rental Network_1 Report a problem
9/12/2022	Price change	$1,125+2.7%
Source: Zillow Rental Manager Report a problem
8/12/2022	Listed for rent	$1,095
Source: Zillow Rental Manager Report a problem
10/29/2021	Sold	$800,000+0%$250/sqft
Source: SCWMLS #1919960 Report a problem
9/22/2021	Pending sale	$799,900$250/sqft
Source: RE/MAX International #1919960 Report a problem
9/17/2021	Listed for sale	$799,900+55.8%$250/sqft
Source: RE/MAX International #1919960 Report a problem
6/20/2016	Sold	$513,500$160/sqft
Source: SCWMLS #1772458 Report a problem

Public tax history

Tax history is unavailable.

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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