Turnkey 7-Unit Multi-Family Investment Opportunity I Fully Renovated

About this listing

Discover the unbeatable location of 1131 Erie Street, ideally situated in Racine’s vibrant Lower First Ward neighborhood. Just steps from Downtown Racine, this property lies in one of the city’s most walkable and rapidly developing areas. Residents enjoy immediate access to the scenic Root River, Lake Michigan’s shoreline, and a growing collection of restaurants, cafes, local shops, and cultural amenities.


This historic neighborhood is known for its charming architecture, strong community feel, and proximity to key lifestyle destinations like the Racine marina, live music venues, and the popular downtown farmers market. With a location that blends character and convenience, there's always something happening just around the corner.


Racine itself is a dynamic lakefront city spanning approximately 16 square miles and serving as the county seat of Racine County, with a population of over 77,000 residents. It's home to several major employers including S.C. Johnson, CNH Industrial, Modine Manufacturing, and Ascension Healthcare, providing a solid employment base and economic stability. The city also offers access to Gateway Technical College and UW-Parkside, along with strong public and private school options through the Racine Unified School District.


Commuters benefit from easy access to major roads and public transit, offering efficient travel throughout the city and surrounding areas. With a cost of living 18% below the national average, strong renter demand, and an ongoing wave of downtown revitalization, Racine delivers both an exceptional lifestyle and a promising multifamily investment market. 1131 Erie Street stands out as a unique opportunity to own in a location that truly combines convenience, culture, and community.

Exceptional opportunity to acquire a fully renovated, cash-flowing 7-unit multi-family property, spanning two buildings on a single parcel in the vibrant Downtown Racine area. This stabilized asset has undergone a top-to-bottom renovation, making it a truly turnkey investment with minimal future capital requirements. The unit mix includes four (4) 2-bedroom, 1-bath units and three (3) 1-bedroom, 1-bath units—ideal for attracting long-term tenants and maximizing rental income.


Exterior upgrades include new porches, windows, roofs, gutters, and brand-new siding on both buildings. All major mechanical systems have been updated. Each unit has been fully gut-rehabbed and features luxury vinyl plank flooring, LG stainless steel appliances, modern lighting, and stylish finishes—delivering a contemporary, low-maintenance living experience.


Additional amenities include a full basement with spacious tenant storage, offering the potential to generate additional income, as well as an on-site laundry facility. This is an excellent opportunity for both new and seasoned investors to acquire a stable, income-generating asset with updated infrastructure and strong long-term upside.