Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2523 W Garfield Ave Milwaukee, WI 53205

    View on Map
    Sponsored
    For Sale
    $275,000

    Duplex + - Milwaukee, WI

    Property size:
    2,834 SF
    Lot size:
    0.15 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 10 at 6:06 pm

    Property Features for 2523 W Garfield Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RT4
    APN
    3502232100
    Size
    2,834 SF
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1895
    Number of units
    3
    Architectural style
    Other

    We can help!

    Listing Contact
    Geneva N Byrd

    eXp Realty, LLC (608) 412-0704

    Listing agent Geneva N Byrd (866) 848-6990 License #94877-94

    Listing date Mar 10, 2026

    MLS# 1953210 Listing URL

    Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Triplex in Milwaukee, Wisconsin

    This triplex, located in Milwaukee, Wisconsin, presents a unique opportunity for either owner-occupancy or investment. The property includes a rear-cottage home-style unit, with each of the three units featuring 2 bedrooms and 1 bathroom. The total area of the property is approximately 2,834 square feet. Situated on a 0.15-acre double lot, the property includes a slab for two cars. A large attic offers the potential to expand the living area for an additional unit. The property is zoned RT4.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NYC Inc Construction Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.945842
    Latitude
    43.058958

    Nearby Similar for Sale

    • New
      $500,000
      9,688 SF

      Multi-Tenant Office Building For Sale

      Multi-tenant office building with flexible spaces and ample parking.
      9306 N 107Th St, Milwaukee, WI 53224
      View Details
    • $499,900
      2,863 SF

      Prime Commercial Building on 76th

      Free-standing building in high-traffic commercial area, priced to sell.
      3171 S 76Th St, Milwaukee, WI 53219
      View Details
    • New
      $255,000
      3,128 SF

      Mixed-Use Commercial Property in Milwaukee

      Highly visible commercial building with flexibility and strong investment potential.
      6425 W Burleigh St, Milwaukee, WI 53210
      View Details
    • New
      $299,900
      2,690 SF

      Turnkey Automotive Property on MLK

      Freestanding commercial property ideal for automotive service business.
      3210 N Dr Martin Luther King Jr Dr, Milwaukee, WI 53212
      View Details
    • $300,000
      20,995 SF

      Milwaukee Church with Redevelopment Potential

      Church property in Milwaukee with redevelopment and expansion possibilities.
      3438 N Dr Lester Carter Dr, Milwaukee, WI 53206
      View Details
    • $729,900
      9,954 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with apartments and dance hall in Milwaukee.
      2007 W Forest Home Ave, Milwaukee, WI 53215
      View Details
    • $229,900
      6,062 SF

      Spacious Church Facility with Parking

      Well-maintained church with offices, open space, kitchen, and parking.
      200 W Concordia Ave, Milwaukee, WI 53212
      View Details
    • New
      $575,000
      0.10 Acres

      Milwaukee Triplex Near Lake Michigan

      Three-unit property near Lake Michigan in Bayview neighborhood.
      2801 S Wentworth Ave, Milwaukee, WI 53207
      View Details
    • New
      $599,000
      0.17 Acres

      River West Three-Family Property

      Three-unit property in River West, ideal for owner-occupancy or investment.
      2715 N Humboldt Blvd, Milwaukee, WI 53212
      View Details
    • $229,000
      2,838 SF

      Milwaukee Investment Opportunity with Daycare

      Cash-flowing property with daycare and apartment in Milwaukee, WI.
      3477 N 2Nd St, Milwaukee, WI 53212
      View Details
    • New
      $690,000
      0.54 Acres

      Milwaukee Multifamily Repositioning Opportunity

      12-unit multifamily with repositioning potential in Milwaukee, Wisconsin.
      3700-3712 N Sherman Blvd, Milwaukee, WI 53216
      View Details
    • New
      $799,900
      0.50 Acres

      Milwaukee Multifamily Investment Opportunity

      8-unit apartment building in Milwaukee's Bradley Estates neighborhood.
      7871 N 60Th St, Milwaukee, WI 53223
      View Details

    FAQs

    What type of property is this?
    Triplex - Triplex with rear-cottage home style units, great investment opportunity.
    Where is this triplex located?
    The property is located at 2523 W Garfield Ave Milwaukee, WI.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Three income-generating units, each with 2 bedrooms and 1 bathroom.; - Large double lot providing ample space.; - Approximately 2,834 sq ft of living space.
    (414) 881-3188
    Request Owner's contact information
    2523 W Garfield Ave Milwaukee, WI 53205
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2523 W Garfield Ave
    Milwaukee, WI 53205
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2523 W Garfield Ave Milwaukee, WI 53205
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Geneva N Byrd
    Real Estate License ID: 94877-94
    (414) 881-3188 (866) 848-6990
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!