Three-Unit Multifamily
1816 East Nock Street Milwaukee, WI 53207
1816 East Nock Street, Milwaukee, WI, 53207
$599,000
For Sale
$599,000
Bay View three-unit layout includes a main 3BR/2BA configuration, plus a furnished one-bedroom short-term rental suite.
Property Size3,026 SF
Price / SF$197.95
Days on Market72
Property Features for 1816 East Nock Street
General Information
- Standard status
- Active
- Size
- 3,026 SF
- Property subtype
- Multi Family / Duplex-side by side
Building Details
- Year Built
- 1905
Listing agency
@properties-elleven Christie's International
(608) 438-2130
Listed by
Melissa LeGrand · License #57439-90
(608) 438-2130
Source
Compass
Added: May 11 Updated: Jul 20 at 9:42PM Checked: Jul 20 at 9:42PM
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-elleven Christie's International
Investment Insights
Based on property information with market context.
Showings begin May 15th. Located at 1816 East Nock Street in Milwaukee, this Bay View three-unit property is arranged across three levels and offers separate, well-defined living spaces.
The main level features three bedrooms and two full bathrooms. The upper unit includes one bedroom and one full bath, with an updated kitchen and bathroom. The lower level offers a one-bedroom, one-bath Airbnb-style suite that comes fully furnished, positioned as a turnkey short-term rental opportunity.
Outside, the property includes a pesticide-free lawn. The home is described as just steps from South Shore Park and Lake Michigan, and is close to the lakefront, restaurants, coffee shops, and the South Shore Farmers Market.
The main level features three bedrooms and two full bathrooms. The upper unit includes one bedroom and one full bath, with an updated kitchen and bathroom. The lower level offers a one-bedroom, one-bath Airbnb-style suite that comes fully furnished, positioned as a turnkey short-term rental opportunity.
Outside, the property includes a pesticide-free lawn. The home is described as just steps from South Shore Park and Lake Michigan, and is close to the lakefront, restaurants, coffee shops, and the South Shore Farmers Market.
Key Highlights
- Bay View three‑unit setup: main level offers 3 bedrooms and 2 full bathrooms
- Upper unit includes 1 bedroom and 1 full bathroom with a furnished kitchen and bathroom
- Lower level features a 1‑bedroom/1‑bath Airbnb‑style suite and is fully furnished
Local Financial Insights For Multifamily LT 5
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 | $45.4k | $15.00 |
| − Vacancy | −$1.9k | −$0.63 |
| EGI | $43.5k | $14.37 |
| − OpEx | −$13.0k | −$4.31 |
| NOI | $30.4k | $10.06 |
3,026 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$434.8K
$380.5K – $507.3K
NOI $30,439 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$402.6K
$352.3K – $469.7K
NOI $28,184 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$727.2K
$636.3K – $848.4K
NOI $50,902 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Bay View three-unit layout includes a main 3BR/2BA configuration, plus a furnished one-bedroom short-term rental suite.
Where is this triplex located?
The property is located at 1816 East Nock Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Bay View three‑unit setup: main level offers 3 bedrooms and 2 full bathrooms; Upper unit includes 1 bedroom and 1 full bathroom with a furnished kitchen and bathroom; Lower level features a 1‑bedroom/1‑bath Airbnb‑style suite and is fully furnished
