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    MICHIGAN STREET PROPERTIES Milwaukee, WI

    For Sale
    $3,600,000

    65-unit Near West Side complex, high ROI.

    Property size:
    45,346 SF

    Description

    Added:
    Jan 16, 2025
    Days on Market:
    333
    Exceptional investment opportunity: a 65-unit multifamily property situated in Milwaukee's Near West Side neighborhood. This assemblage comprises three lots, featuring two 30-unit buildings and a separate 5-unit vintage home, all containing one-bedroom apartments. The property boasts a convenient location, a mere 7-minute walk from Marquette University's central campus, enhancing its appeal to students and young professionals. Parking is readily available with approximately 24 spots located between 2301 and 2319 W Michigan St. The buildings are situated at 2301 W Michigan St (5 units), 2319 W Michigan St (30 units), and 2327 W Michigan St (30 units). The total land area encompasses 1.04 acres. The asking price is $3,600,000. Projected cap rate is 8.00%, with a proforma cap rate of 9.06%. The price per square foot is $79.39. This presents a compelling opportunity for investors seeking strong returns in a desirable, high-demand location. The property's proximity to Marquette University ensures consistent occupancy and rental income. This is a rare opportunity to acquire a substantial multifamily portfolio in a thriving Milwaukee neighborhood. The property's size and location make it an ideal investment for experienced real estate investors seeking significant returns.

    Property Features for MICHIGAN STREET PROPERTIES

    General Information

    Property type
    Multifamily properties
    Square Feet
    45,346 SF
    Price / Square Foot
    $79
    Elevators
    N/A
    Lot Size
    45,346 SF

    Building Details

    Year Built
    1926
    Buildings
    2
    Stories
    3

    HighLights

    • Prime Near West Side Milwaukee location, 7‑minute walk to Marquette University.
    • Three‑lot assemblage totaling 65 units, all one‑bedroom apartments.
    • Features approximately 24 parking spaces for residents' convenience.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store Pharmacy

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

    Location Insight

    City
    Milwaukee
    State
    Wisconsin

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    FAQs

    What type of property is this?
    Multifamily property - 65-unit Near West Side complex, high ROI.
    Where is this multifamily property located?
    The property is located at MICHIGAN STREET PROPERTIES Milwaukee, WI.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: Prime Near West Side Milwaukee location, 7-minute walk to Marquette University.; Three-lot assemblage totaling 65 units, all one-bedroom apartments.; Features approximately 24 parking spaces for residents' convenience.
    (773) 293-5067
    Request Owner's contact information
    MICHIGAN STREET PROPERTIES Milwaukee, WI
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    Realmo Value Estimation

    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.

    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.

    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
    MICHIGAN STREET PROPERTIES Milwaukee, WI
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