2848 W Wisconsin Ave - Apartments FOR SALE


Milwaukee, WI 53208
$3,790,000 USD
414-788-0449
2848 W Wisconsin Ave, Milwaukee, WI for Sale
$3,790,000 USD
Apartments - FOR SALE
1/18
null | 8.41% Cap Rate

2848 W Wisconsin Ave
Milwaukee, WI 53208


HIGHLIGHTS

  • Downtown Milwaukee location with several bus lines one block away.

OVERVIEW

TWO BRICK BUILDINGS, total 63 Units in Downtown Milwaukee's Avenues West Neighborhood near Marquette University. Consists of 2 three-story buildings at the corner of 29th & Wisconsin. 60 of the units are one-bedroom, and 3 units are two-bedroom. FULLY OCCUPIED, and with a Resident Manager. This is a solid value-add opportunity because many rents are below market. Features 34 underground parking spaces that are under-utilized. Seller estimates 7.7 CAP today, but 9.6 CAP if owner keeps leasing new tenants at tested, successful higher market rent. 2 BUILDINGS: 2848 W Wisconsin, and 730 N 29th ST. Showings by appointment only thru Lister 414-788-0449.

FOR SALE DETAILS

PRICE

$3,790,000 USD

PRICE/SF

$91 USD /SF

# OF UNITS

63

PRICE/UNIT

$60,159

CAP RATE

8.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Concordia Palmtree Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1962

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

RM7

APN/PARCEL ID

388-2005-100,388-2008-000

ASK ABOUT THIS PROPERTY

Graig GoldmanRe/Max Service First - Segal / Goldman GroupMore Info
414-788-0449

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Graig GoldmanRe/Max Service First - Segal / Goldman GroupMore Info
414-788-0449

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.