Multi-Unit Property on Corner
1650 South Pearl Street Unit 1656 Milwaukee, WI 53204
For Sale
$329,900
Pending
Multi-unit property with long-term tenants and newer roof.
Property Size2,685 SF
Days on Market192
Property Features for 1650 South Pearl Street Unit 1656
General Information
Standard status
Pending
Size
2,685 SF
Property subtype
Multi-Family / Multi-Family
Building Details
Year Built
1891
Listing Agency:
Midwest Realty Group, LLC
(262) 617-0096
Listed By:
Jeremy B Metzger · License #52256-90
(262) 617-0096
Source:
Compass
Added: Jan 18
Changed: Jul 10
Last Checked: Jul 29 at 2:34PM
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 Midwest Realty Group, LLC
Investment Insights
Based on property information with market context.
This multi-unit property features long-term tenants and generates a total rental income of $2,750. The property benefits from a corner lot location, providing the advantage of having no adjacent neighbors on either side. A newer roof is in place, and the property is described as well-maintained. The property size is 2,685 square feet.
Key Highlights
- Multi‑unit property generating $2,750 in total rents
- Long‑term tenants already in place
- Corner lot providing increased privacy
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 | $47.4k | $17.64 |
| − Vacancy | −$1.9k | −$0.71 |
| EGI | $45.5k | $16.93 |
| − OpEx | −$20.5k | −$7.62 |
| NOI | $25.0k | $9.31 |
2,685 SF · lease $17.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$357.3K
$312.6K – $416.8K
NOI $25,008 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.2K
$564.6K – $752.8K
NOI $45,166 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit property with long-term tenants and newer roof.
Where is this multifamily property located?
The property is located at 1650 South Pearl Street Unit 1656 Milwaukee, WI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Multi‑unit property generating $2,750 in total rents; Long‑term tenants already in place; Corner lot providing increased privacy
