Bay View Quadplex Requiring
For Sale
$300,000
2232 S Allis St, Milwaukee, WI 53207
Four-unit apartment property with three two-bedroom units and one one-bedroom unit.
Property Size2,739 SF
Price / SF$109.53
Days on Market47
Property Features for 2232 S Allis St
General Information
Standard status
Active
Size
2,739 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
full rehab
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1880
Listing Agency:
Berkshire Hathaway HomeServices Metro Realty
Listed By:
Segal Goldman Realty Group* · License #7654594
(262) 384-4552
Source:
Levelupwi
Added: Sep 6
Changed: Oct 11
Last Checked: Oct 7 at 3:17PM
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 Berkshire Hathaway HomeServices Metro Realty
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Investment Insights
Based on property information with market context.
This 1880-built quadplex contains four apartments: three with two bedrooms and one bathroom, plus one with one bedroom and one bathroom. The property requires a full rehabilitation, offering a defined renovation project across the existing unit configuration.
Located in Milwaukee’s Bay View area at 2232 S Allis St, the property is positioned approximately half a block from KK.
Located in Milwaukee’s Bay View area at 2232 S Allis St, the property is positioned approximately half a block from KK.
Key Highlights
- Four‑unit quadplex built in 1880
- Unit mix includes three 2BR/1BA apartments and one 1BR/1BA apartment
- Full rehabilitation required
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,552
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,040
$551.0K
Cap Rate 7%
$393,600
$393.6K
Cap Rate 9%
$306,133
$306.1K
Market Conditions
NOI Build-Up for 2,739 SF
Gross rent
$41.1K $15.00/SF
− Vacancy
−$1.7K −$0.63/SF
EGI
$39.4K $14.37/SF
− OpEx
−$11.8K −$4.31/SF
NOI
$27.6K $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%
$551,040
Cap Rate 7%
$393,600
Cap Rate 9%
$306,133
Alternative Uses
Best Use
Multifamily LT 5
$393.6K
$344.4K – $459.2K
NOI $27,552 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$364.4K
$318.9K – $425.2K
NOI $25,511 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$658.2K
$575.9K – $767.9K
NOI $46,074 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
961
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
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit apartment property with three two-bedroom units and one one-bedroom unit.
Where is this quadplex located?
The property is located at 2232 S Allis St Milwaukee, WI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1880; Unit mix includes three 2BR/1BA apartments and one 1BR/1BA apartment; Full rehabilitation required
