305 W Prospect Street Thorp, WI 54771 MLS# 7127607 6246 sqft
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Property Description Exceptional Four-Unit Condominium Investment Opportunity | Thorp, Wisconsin
Discover a truly unique investment opportunity with this beautifully maintained four-unit condominium property situated on approximately 1.6 acres in a peaceful, park-like setting in Thorp, Wisconsin. With numerous improvements, exceptional accessibility, and multiple potential uses, this property is ideal for investors, healthcare providers, or those seeking a private family compound.
Three units offer 2 bedrooms and 1 full bath, while the fourth unit features 1 bedroom and 2 full baths. Every unit includes a four-season porch, attached 484-square-foot two-car garage, and in-unit washer and dryer, providing residents with comfort, convenience, and independent living.
The spacious end units each offer 1,167 square feet, while the two center units each provide 1,132 square feet of thoughtfully designed living space. Best of all, there are no steps inside or outside the property, making the entire development wheelchair accessible.
Residents can gather in the impressive 1,640-square-foot common area, featuring in-floor heat and ample space for social activities, meetings, or community events. Just outside, a large paved patio overlooks beautifully landscaped grounds, while a picturesque stream winds through the back of the property, creating a peaceful setting rarely found in an investment property. An additional detached common garage provides valuable storage or maintenance space.
Whether youâre looking to create a:
? Family compound or multi-generational living community
? Vacation rental destination
? Long-term rental investment
? Assisted living, senior housing, adult family home, or other healthcare-related use (subject to buyer verification and local approvals)
? Corporate or workforce housing
this versatile property offers outstanding potential.
Property Highlights
⢠Building is a free span structure making it easy to remove any interior walls
? Four condominium units
? Three 2-bedroom, 1-bath units
? One 1-bedroom, 2-bath unit
? End units: 1,167 SF each
? Center units: 1,132 SF each
? Attached 484 SF two-car garage for every unit
? Four-season porch in every residence
? Washer and dryer included in each unit
? Completely wheelchair accessible with no interior or exterior steps
? 1,640 SF heated common area with
⢠In-floor heat
⢠Wall AC units
⢠Full bath with walk-in shower
⢠Full kitchen
? Large paved community patio
? Detached common garage
? 1.6-acre setting with a beautiful stream along the rear of the property
? Numerous improvements throughout
This is an exceptional opportunity to own a one-of-a-kind property that combines residential comfort, accessibility, natural beauty, and outstanding investment flexibility.
Details
Maps
Documents
Contract Information
Status: Active
Contingency: None
Current Price: 1300000
Original List Price: 1300000
ListPrice: 1300000
List Date: 2026-08-14
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: Yes
Owner Occupied: Yes
Road Btwn WF & Home?: No
Waterfront YN: Yes
Year Built: 1992
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 6246
Above Ground SqFt: 6246
Total SqFt: 6246
Foundation Size: 6246
Style: (MF) Four Plex
Total Finished Sqft: 6246.00
Lake/Waterfront Name: Unnamed Lake
Garage Stalls: 9
Lot Dimensions: 233X60X194X181
Acres: 1.6
Assessment Pending: No
Location Tax and Other Information
House Number: 305
Street Direction Prefix: W
Street Name: Prospect
Street Suffix: Street
Postal City: Thorp
County: Clark
State: WI
Zip Code: 54771
Complex/Dev/Subdivision: Lindquist Add
Additional Parcels Information
Property ID #2: 2860907307
Property ID #3: 2860907309,2860907311
Assessments
Tax With Assessments: 8141
Building Information
Finished SqFt Above Ground: 6246
Income and Expenses
Annual Electric Expense: 1700
Annual Fuel Expense: 202
Annual Gross Expenses: 6973
Annual Gross Income: 8640
Annual Insurance Expense: 3229
Annual Maintenance Expense: 600
Annual Repair Expense: 620
Annual Water/Sewer Expense: 622
Total Annual Expenses: 8640
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Garage Dimensions: 22x22
Garage Square Feet: 484
Public Survey Info
Range#: 04W
Section#: 36
Township#: 29N
Unit 1
Furnished?: No
Leased?: No
Unit Number: 1
No. of Units Like This: 4
Total Rooms: 4
Unit Details
Total Units: 4
Property Features
Accessible: Doors 36"+; Fully Wheelchair; Hallways 42"+; No Stairs External; No Stairs Internal; Roll Under Accessibility; Roll-In Shower
Amenities Shared: Lobby; Patio; Porch; Security Building
Basement: None
Construction Status: Previously Owned
Exterior: Block
Foundation: Slab
Fuel: Natural Gas
Heating: Forced Air
Internet Options: Cable; DSL; Fiber Optic; Satellite
Laundry: In Unit
Parking Characteristics: Garage Door Opener
Sewer: City Sewer/Connected
Stories: One
Unit 1 Special Search: Divided Bdr Flr Plan; Main Floor Bedroom; 4 BR on One Level; All Living Fac. on One Level; Main Floor Laundry; Main Floor Primary