1028 Banks Ave, Superior, WI 54880
MULTI_FAMILY - Superior, WI
- Added:
- Jun 13, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 14 at 9:06 am
Property Features for 1028 Banks Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Basement, Bedroom 3, Bathroom 4, Bedroom 1
- Basement
- Concrete
- Standard status
- Active
- APN
- 06-806-00223-00
- Size
- 2,260 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3511
Utilities
- Heating system
- Natural Gas, Hot Water(Heating)
Building Details
- Year built
- 1914
- Floors in Building
- 2
- Number of units
- 5
Listing agent Megan Wilson License #75787-94 (952) 829-2900
Listing office RE/MAX Results Duluth, WI (952) 829-2900
Listing date Jun 13, 2026
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.
HighLights
- Fully leased 5‑plex in Superior located on the corner of Banks Avenue and N 11th Street
- Unit mix: three 1‑bedroom units and two studio apartments
- Year built 1914 with a full poured‑concrete basement
- Per seller: Weil‑McLain boiler and heating components upgraded; roof recently replaced
- Current rental income approx. $3,935/month with avg. monthly expenses about $960 (utilities, taxes, and insurance)
Overview
The building is located on the corner of Banks Avenue and N 11th Street in Superior, Wisconsin. The seller reports a strong rental history, and the property’s existing systems include a Weil-McLain boiler with upgraded heating components. A new roof has also been recently installed.
From an operating standpoint, the current rent roll is reported at approximately $3,935 per month, with average monthly expenses of about $960, covering utilities, taxes, and insurance. For buyers seeking a straightforward multifamily asset, the mix of unit types may appeal to tenants looking for either 1-bedroom or studio layouts, while the combination of concrete basement space and recent roof and heating work supports continued day-to-day functionality.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.7k | $14.04 |
| − Vacancy | −$1.6k | −$0.70 |
| EGI | $30.1k | $13.34 |
| − OpEx | −$13.6k | −$6.00 |
| NOI | $16.6k | $7.34 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Superior
- County
- Douglas
- State
- Wisconsin
- Longitude
- -92.105158
- Latitude
- 46.725628
