Updated Quadplex with
For Sale
$550,000
6050 W Appleton Ave, Milwaukee, WI 53210
Four-unit residential income property with extensive exterior upgrades, refreshed interiors, separate electric, and on-site garage parking.
Property Size3,080 SF
Price / SF$178.57
Days on Market30
Property Features for 6050 W Appleton Ave
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
balcony
patios
Building Details
Year Built
1952
Listing Agency:
RE/MAX Lakeside-Central
(414) 881-0058
Listed By:
Benson Group* · License #3904890
Source:
Levelupwi
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 29 at 1:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Lakeside-Central
Investment Insights
Based on property information with market context.
This 3,080-square-foot quadplex, built in 1952, contains four residential units with spacious rooms, closet storage, and updated interior finishes. Hardwood floors have been refinished in three units, and the interiors have been repainted. The property also includes a two-car block garage and expanded parking.
Recent building work includes a new roof, soffit and fascia, gutters, windows, tuck pointing, driveway, patios, and balcony. Mechanical improvements include one new GFA furnace, four new water heaters, plumbing updates, and separate updated electric service. The property is located at 6050 W Appleton Ave in Milwaukee, Wisconsin.
Recent building work includes a new roof, soffit and fascia, gutters, windows, tuck pointing, driveway, patios, and balcony. Mechanical improvements include one new GFA furnace, four new water heaters, plumbing updates, and separate updated electric service. The property is located at 6050 W Appleton Ave in Milwaukee, Wisconsin.
Key Highlights
- Four‑unit quadplex totaling 3,080 square feet
- Built in 1952 with extensive recent exterior improvements
- Hardwood floors refinished in 3 of 4 units
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
$30,982
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
5.63%
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%
$619,640
$619.6K
Cap Rate 7%
$442,600
$442.6K
Cap Rate 9%
$344,244
$344.2K
Market Conditions
NOI Build-Up for 3,080 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
$46.2K $15.00/SF
− Vacancy
−$1.9K −$0.63/SF
EGI
$44.3K $14.37/SF
− OpEx
−$13.3K −$4.31/SF
NOI
$31.0K $10.06/SF
Area
Milwaukee, WI
Vacancy
4.20%
Lease Rate
$15.00 /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%
$619,640
Cap Rate 7%
$442,600
Cap Rate 9%
$344,244
Alternative Uses
Best Use
Multifamily LT 5
$442.6K
$387.3K – $516.4K
NOI $30,982 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$409.8K
$358.6K – $478.1K
NOI $28,687 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$740.2K
$647.6K – $863.5K
NOI $51,811 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 53210, WI
25,588
Population
11,005
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
9,842
Density / Sq Mi
$45,268
Median Household Income
$35,797
Median Earnings
$1,044
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with extensive exterior upgrades, refreshed interiors, separate electric, and on-site garage parking.
Where is this quadplex located?
The property is located at 6050 W Appleton Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 3,080 square feet; Built in 1952 with extensive recent exterior improvements; Hardwood floors refinished in 3 of 4 units
