Stucco Triplex with Attached
For Sale
$270,000
2601 Hughitt Ave, Superior, WI 54880
MULTI-FAMILY, Superior, WI
Property Size1,660 SF
Lot Size0.16 Acres
Price / SF$162.65
Days on Market45
Property Features for 2601 Hughitt Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Parking features
Driveway, Off Street
Exterior features
Fire Escape
Basement
Concrete
Lot features
Tree Coverage - Light, Level
Elementary school district
Superior (WI) #5663
Middle school district
Superior (WI) #5663
High school district
Superior (WI) #5663
Directions
South on hughitt fro 21st street, home is on the corner on the right.
Subdivision
LSAR
Standard status
Active
APN
07-807-02936-00
Size
1,660 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2387
Utilities
Heating system
Hot Water(Heating), Natural Gas, Oil, Radiant
Amenities
coin-op washer/dryer
Building Details
Year built
1901
Number of units
3
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Tom Acton · License #40200615|WI67860-94
(952) 829-2900
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 23 at 8:06PM
MLS# 6125908
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1901 triplex contains 1,660 square feet on a 0.16-acre lot in Superior, Wisconsin. The layout includes a two-bedroom apartment on the main level and two one-bedroom apartments upstairs. A stucco exterior, shingle roof, attached garage, driveway, and off-street parking serve the property. The basement houses coin-operated laundry equipment, while a hot-water boiler provides heating.
Two apartments are occupied on a month-to-month basis, and the third is subject to a current lease. Tenants pay their own electricity and optional internet or cable service; water, sewer, and heat are paid by the owner. The roof was replaced in 2005, and city records indicate the alley sewer was replaced in 1994. Multiple internet service options are available at the address.
Two apartments are occupied on a month-to-month basis, and the third is subject to a current lease. Tenants pay their own electricity and optional internet or cable service; water, sewer, and heat are paid by the owner. The roof was replaced in 2005, and city records indicate the alley sewer was replaced in 1994. Multiple internet service options are available at the address.
Key Highlights
- Triplex with 1,660 square feet on a 0.16‑acre lot
- Unit mix includes one 2‑bedroom apartment and two 1‑bedroom apartments
- Two month‑to‑month occupancies and one unit under a current lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,836
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$276,720
$276.7K
Cap Rate 7%
$197,657
$197.7K
Cap Rate 9%
$153,733
$153.7K
Market Conditions
NOI Build-Up for 1,660 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.9K $12.60/SF
− Vacancy
−$1.2K −$0.69/SF
EGI
$19.8K $11.91/SF
− OpEx
−$5.9K −$3.57/SF
NOI
$13.8K $8.33/SF
Area
Douglas County, WI
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$276,720
Cap Rate 7%
$197,657
Cap Rate 9%
$153,733
Alternative Uses
Best Use
Multifamily LT 5
$197.7K
$173.0K – $230.6K
NOI $13,836 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$174.0K
$152.2K – $203.0K
NOI $12,178 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$523.4K
$458.0K – $610.6K
NOI $36,637 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include one two-bedroom apartment and two one-bedroom apartments, with shared basement laundry facilities.
Where is this triplex located?
The property is located at 2601 Hughitt Ave Superior, WI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Triplex with 1,660 square feet on a 0.16‑acre lot; Unit mix includes one 2‑bedroom apartment and two 1‑bedroom apartments; Two month‑to‑month occupancies and one unit under a current lease
