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    • $1,325,000

    505 Alan Dr, Mount Horeb, WI 53572

    8beds
    3,200sqft
    : 
    $7,923/mo
    Get pre-qualified
    Apartment
    Built in 1976
    -- sqft lot
    $1,259,500 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.
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    Zillow last checked:

    Listing updated:

    Listed by:

    Ken Brenner,

    Stark Company, REALTORS

    Source: SCWMLS,MLS#: 2017059

      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: 2/23/2026
      • 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

        $1,259,500

        $1.20M - $1.32M

        $1,749/mo

        Price history

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

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        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.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: 53572

        Getting around

        41 / 100
        Car-Dependent
        30 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Mount Horeb
        • Middle: Mount Horeb
        • High: Mount Horeb
        • District: Mount Horeb

        Source: SCWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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