11-Unit Apartment
For Sale
$1,645,000
1851-1853 N Humboldt Ave, Milwaukee, WI 53202
Two residential properties offer individually heated units and updated electrical service.
Property Size8,857 SF
Lot Size0.17 Acres
Days on Market11
Property Features for 1851-1853 N Humboldt Ave
General Information
Standard status
Active
Size
8,857 SF
Lot size
0.17 Acres
Property subtype
Multifamily
Occupancy
96%
Additional Details
Multifamily Units
11
Amenities
non-coin operated washers and dryers
Desirable Lower-East Side Neighborhood
Close to Downtown and Restaurants
Newer Roof Coverings on Two Buildings
Several HVAC Units are Newer
Updated Electric Services
Building Details
Building Size
8,857 SF
Units
11
Listing Agency:
Marcus & Millichap - Milwaukee
Listed By:
Mark Peltin · License #License(s): WI: 46437-90
(262) 364-1929
Source:
Marcusmillichap
Added: Oct 4
Changed: Oct 13
Last Checked: Oct 12 at 4:52PM
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 Marcus & Millichap - Milwaukee
Investment Insights
Based on property information with market context.
The 11-unit apartment portfolio consists of two properties on a combined 0.17-acre parcel at 1851-1853 and 1855 N. Humboldt Avenue in Milwaukee. The first property contains a three-unit front building and a two-unit rear building; the second has a five-unit front building and a one-unit rear building. Their recorded areas are 4,517 square feet and 4,340 square feet, respectively. Construction dates are approximately 1875 and 1890.
Both properties have vinyl siding, pitched roofs, and newer vinyl-clad double-hung windows. Each apartment is equipped with its own gas furnace and water heater, and electrical service has been updated. One unit has central air conditioning. Apartments include refrigerators and stoves, with carpet and LVP flooring; basement laundry equipment is provided at each property. There is no on-site parking.
Both properties have vinyl siding, pitched roofs, and newer vinyl-clad double-hung windows. Each apartment is equipped with its own gas furnace and water heater, and electrical service has been updated. One unit has central air conditioning. Apartments include refrigerators and stoves, with carpet and LVP flooring; basement laundry equipment is provided at each property. There is no on-site parking.
Key Highlights
- 11 apartments across two properties on a combined 0.17‑acre parcel
- 1851‑1853 N. Humboldt Avenue: 4,517 square feet; buildings constructed around 1875
- 1855 N. Humboldt Avenue: 4,340 square feet; buildings constructed around 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,493
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,649,860
$1.6M
Cap Rate 7%
$1,178,471
$1.2M
Cap Rate 9%
$916,589
$916.6K
Market Conditions
NOI Build-Up for 8,857 SF
Gross rent
$156.2K $17.64/SF
− Vacancy
−$6.2K −$0.71/SF
EGI
$150.0K $16.93/SF
− OpEx
−$67.5K −$7.62/SF
NOI
$82.5K $9.31/SF
Area
Milwaukee, WI
Vacancy
4.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,649,860
Cap Rate 7%
$1,178,471
Cap Rate 9%
$916,589
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,493 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,989 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
2,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two residential properties offer individually heated units and updated electrical service.
Where is this apartment building located?
The property is located at 1851-1853 N Humboldt Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,645,000.
What are key features of this property?
This property features: 11 apartments across two properties on a combined 0.17‑acre parcel; 1851‑1853 N. Humboldt Avenue: 4,517 square feet; buildings constructed around 1875; 1855 N. Humboldt Avenue: 4,340 square feet; buildings constructed around 1890
