Historic 8-Unit Apartment
For Sale
$700,000
2258 S 17th St, Milwaukee, WI 53215
Historic multifamily asset with varied floor plans and portfolio sale structure.
Property Size2,500 SF
Price / SF$280
Days on Market16
Property Features for 2258 S 17th St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$1,700,000
Multifamily Units
18
Building Details
Year Built
1890
Buildings
4
Listing Agency:
Apartment Cash Flow, Inc.
(414) 250-8132
Listed By:
Max Fiascone · License #55937
Source:
Jwregwi
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 31 at 6:53PM
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 Apartment Cash Flow, Inc.
Investment Insights
Based on property information with market context.
Built in 1890, this apartment building contains 8 units with a mix of 1-, 2-, and 3-bedroom layouts. The property offers 5,350 net rentable SF and represents the largest asset in a four-property Milwaukee portfolio totaling 18 units.
The building is located at 2258 S 17th St in Milwaukee’s South Side. It is being offered only with the companion properties at 500 W Arthur Ave, 2474 S 13th St, and 1108-1110 S 20th St, creating a combined portfolio acquisition rather than an individual sale.
The building is located at 2258 S 17th St in Milwaukee’s South Side. It is being offered only with the companion properties at 500 W Arthur Ave, 2474 S 13th St, and 1108-1110 S 20th St, creating a combined portfolio acquisition rather than an individual sale.
Key Highlights
- 8‑unit apartment building constructed in 1890
- 5,350 net rentable SF
- Unit mix includes 1-, 2-, and 3‑bedroom floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,082
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$521,640
$521.6K
Cap Rate 7%
$372,600
$372.6K
Cap Rate 9%
$289,800
$289.8K
Market Conditions
NOI Build-Up for 2,500 SF
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.
Gross rent
$49.5K $19.80/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$47.4K $18.97/SF
− OpEx
−$21.3K −$8.54/SF
NOI
$26.1K $10.43/SF
Area
ZIP 53215
Vacancy
4.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$521,640
Cap Rate 7%
$372,600
Cap Rate 9%
$289,800
Alternative Uses
Best Use
Apartment 5plus
$372.6K
$326.0K – $434.7K
NOI $26,082 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.89M
$1.66M – $2.21M
NOI $132,650 @ 7.0% cap · market cap 18.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Explore this area
Business Placement
Demographics for 53215, WI
59,359
Population
21,307
Households
2.8
Avg Household Size
31
Median Age
11%
College-Educated
67%
High-School Grad
5.5 sq mi
ZIP Area
10,793
Density / Sq Mi
$49,207
Median Household Income
$32,261
Median Earnings
$933
Median Rent
$148,400
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 - Historic multifamily asset with varied floor plans and portfolio sale structure.
Where is this apartment building located?
The property is located at 2258 S 17th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in 1890; 5,350 net rentable SF; Unit mix includes 1-, 2-, and 3‑bedroom floor plans
