Updated Duplex with
1500 E Oklahoma Ave, Milwaukee, WI 53207
For Sale
$499,900
Two-unit property with off-street parking and in-unit laundry.
Property Size2,306 SF
Price / SF$216.78
Days on Market54
Property Features for 1500 E Oklahoma Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Additional Details
Multifamily Units
Amenities
in-unit laundry
Building Details
Year Built
Buildings
Listing Agency:
@properties
Listed By:
Daniel Kroll · License WI #5847690
(262) 308-4508
Source:
Levelupwi
Added: Sep 21
Changed: Oct 25
Last Checked: Oct 7 at 4:14PM
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 @properties
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Investment Insights
Based on property information with market context.
This 2,306-square-foot duplex, built in 1924, offers an updated two-unit layout with owner-occupant flexibility. Improvements include updated kitchens and bathrooms, newer luxury vinyl plank flooring, updated plumbing, newer fixtures and appliances, and in-unit laundry. The property also features updated porches and balcony with composite decking.
Exterior improvements include a new garage roof completed in 2025 and two new AC systems installed in 2020. Parking includes a 2-car garage, an additional parking pad, and roomy off-street space. A lower-unit dishwasher was replaced in 2025.
The property is located 0.3 miles from Humboldt Park and provides access to the park’s trails, lagoons, pavilion, picnic areas, and outdoor music stage. The Bay View location also offers access to I-794.
Exterior improvements include a new garage roof completed in 2025 and two new AC systems installed in 2020. Parking includes a 2-car garage, an additional parking pad, and roomy off-street space. A lower-unit dishwasher was replaced in 2025.
The property is located 0.3 miles from Humboldt Park and provides access to the park’s trails, lagoons, pavilion, picnic areas, and outdoor music stage. The Bay View location also offers access to I-794.
Key Highlights
- 2,306‑square‑foot duplex built in 1924
- New garage roof completed in 2025
- Two new AC systems installed in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,196
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,920
$463.9K
Cap Rate 7%
$331,371
$331.4K
Cap Rate 9%
$257,733
$257.7K
Market Conditions
NOI Build-Up for 2,306 SF
Gross rent
$34.6K $15.00/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$33.1K $14.37/SF
− OpEx
−$9.9K −$4.31/SF
NOI
$23.2K $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 Rate 5%
$463,920
Cap Rate 7%
$331,371
Cap Rate 9%
$257,733
Alternative Uses
Best Use
Multifamily LT 5
$331.4K
$290.0K – $386.6K
NOI $23,196 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$306.8K
$268.5K – $358.0K
NOI $21,478 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$554.2K
$484.9K – $646.5K
NOI $38,791 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
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Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Milwaukee, WI
Properties on Market for Duplexes in Milwaukee
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with off-street parking and in-unit laundry.
Where is this duplex located?
The property is located at 1500 E Oklahoma Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,306‑square‑foot duplex built in 1924; New garage roof completed in 2025; Two new AC systems installed in 2020
