Renovation-Ready 1BR Apartment
1922 North Palmer Street Milwaukee, WI 53212
1922 North Palmer Street, Milwaukee, WI, 53212
$1,000,000
Pending
For Sale
$1,000,000
Pending
Multi-family building with eight light-filled 1-bedroom units, including renovated units and recent interior updates.
Property Size7,405 SF
Days on Market28
Property Features for 1922 North Palmer Street
General Information
- Standard status
- Pending
- Size
- 7,405 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1928
Listing agency
Port & Bay Real Estate Co. LLC
(414) 550-8348
Listed by
Krisstina Ebner · License #59511-90
(414) 550-8348
Source
Compass
Added: Jun 25 Updated: Jul 21 at 7:38AM Checked: Jul 22 at 10:31AM
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 Port & Bay Real Estate Co. LLC
Investment Insights
Based on property information with market context.
This apartment building offers eight light-filled 1-bedroom units. Three units have been renovated with updated finishes, stainless steel appliances, and two of those units include in-unit laundry. The remaining units are described as classic and currently renting well without updates.
Recent building updates include repainted hallways and new carpeting, along with a newer boiler system. The property also provides off-street parking for five vehicles and dedicated storage lockers for tenants.
With a mix of renovated and non-renovated units, the building is positioned for continued value-add through further updates while maintaining existing rental operations.
Recent building updates include repainted hallways and new carpeting, along with a newer boiler system. The property also provides off-street parking for five vehicles and dedicated storage lockers for tenants.
With a mix of renovated and non-renovated units, the building is positioned for continued value-add through further updates while maintaining existing rental operations.
Key Highlights
- Multi‑family building with eight 1‑bedroom units, all described as light‑filled
- 3 units have been renovated with updated finishes, SS appliances, and 2 include in‑unit laundry
- Basement includes brick, poured concrete, full basement
Local 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 | $130.6k | $17.64 |
| − Vacancy | −$5.2k | −$0.71 |
| EGI | $125.4k | $16.93 |
| − OpEx | −$56.4k | −$7.62 |
| NOI | $69.0k | $9.31 |
7,405 SF · lease $17.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$985.3K
$862.1K – $1.15M
NOI $68,970 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,564 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multi-family building with eight light-filled 1-bedroom units, including renovated units and recent interior updates.
Where is this apartment building located?
The property is located at 1922 North Palmer Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Multi‑family building with eight 1‑bedroom units, all described as light‑filled; 3 units have been renovated with updated finishes, SS appliances, and 2 include in‑unit laundry; Basement includes brick, poured concrete, full basement
