Building Details

Year Built 1926

Buildings 2

Stories 3

Listed By: Luis Robles Show Phone

Added: Jan 16, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

This multifamily property is located in Milwaukee's Near West Side neighborhood. The property consists of three lots, featuring two 30-unit buildings and a separate 5-unit vintage home, totaling 65 units. All units are one-bedroom apartments. The property is a 7-minute walk from Marquette University's central campus. Approximately 24 parking spaces are available. The buildings are located 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 property size is 45346 square feet. The price per square foot is $79.39. The projected cap rate is 8.00%, with a proforma cap rate of 9.06%. This property is an investment opportunity for experienced real estate investors seeking significant returns.

Key Highlights

• 65‑units
• Cap Rate: 8.00% | Proforma: 9.06%
• $79.39/SF

Property Analytics

Current Use

Residential income homes

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Locksmith Tanning Salon HVAC Service Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

7,417

Businesses Nearby

Explore this area Business Placement

Demographics for 53203, WI

2,180

Population

1,661

Households

1.3

Avg Household Size

29

Median Age

74%

College-Educated

100%

High-School Grad

0.4 sq mi

ZIP Area

5,450

Density / Sq Mi

$84,005

Median Household Income

$75,244

Median Earnings

$1,671

Median Rent

$334,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - 65-units for sale in the Near West Side neighborhood of Milwaukee, WI.

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: 65‑units; Cap Rate: 8.00% | Proforma: 9.06%; $79.39/SF