Renovated 5-Unit Apartment
For Sale
$1,125,000
2436 S Wentworth Ave, Milwaukee, WI 53207
Updated multifamily property with furnished short-term rental capability, separate utility metering, parking, and on-site laundry.
Property Size3,550 SF
Price / SF$316.90
Days on Market34
Property Features for 2436 S Wentworth Ave
General Information
Standard status
Active
Size
3,550 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Amenities
stainless steel appliances
off-street parking
onsite laundry
Building Details
Year Built
1913
Buildings
1
Listing Agency:
Apartment Cash Flow, Inc.
(414) 250-8132
Listed By:
Max Fiascone · License #55937
Source:
Jwregwi
Added: Jul 30
Changed: Aug 30
Last Checked: Aug 30 at 8:32PM
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.
This renovated five-unit apartment building includes four updated apartments configured for long-term occupancy and one furnished two-bedroom unit operating as an Airbnb. The interiors feature refreshed kitchens, stainless steel appliances, and contemporary finishes. Gas and electric service are separately metered by unit, with tenants paying those utilities. On-site laundry and off-street parking add practical amenities for residents.
Major property improvements include a roof replacement completed in 2017 and new exhaust vents installed in 2023. The furnished unit supports short-term, mid-term, or traditional long-term rental use, while the remaining apartments are leased on a long-term basis.
The property is located at 2436 S Wentworth Ave in Milwaukee’s Bay View area, near Kinnickinnic Avenue, South Shore Park, Lake Michigan, downtown Milwaukee, restaurants, and shopping.
Major property improvements include a roof replacement completed in 2017 and new exhaust vents installed in 2023. The furnished unit supports short-term, mid-term, or traditional long-term rental use, while the remaining apartments are leased on a long-term basis.
The property is located at 2436 S Wentworth Ave in Milwaukee’s Bay View area, near Kinnickinnic Avenue, South Shore Park, Lake Michigan, downtown Milwaukee, restaurants, and shopping.
Key Highlights
- 5‑unit apartment building with four renovated long‑term apartments
- Furnished 2‑bedroom unit currently operating as an Airbnb
- New roof completed in 2017 and exhaust vents added in 2023
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
$33,064
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
2.94%
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%
$661,280
$661.3K
Cap Rate 7%
$472,343
$472.3K
Cap Rate 9%
$367,378
$367.4K
Market Conditions
NOI Build-Up for 3,550 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
$62.6K $17.64/SF
− Vacancy
−$2.5K −$0.71/SF
EGI
$60.1K $16.93/SF
− OpEx
−$27.1K −$7.62/SF
NOI
$33.1K $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 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%
$661,280
Cap Rate 7%
$472,343
Cap Rate 9%
$367,378
Alternative Uses
Best Use
Apartment 5plus
$472.3K
$413.3K – $551.1K
NOI $33,064 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$853.1K
$746.5K – $995.3K
NOI $59,717 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
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
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 - Updated multifamily property with furnished short-term rental capability, separate utility metering, parking, and on-site laundry.
Where is this apartment building located?
The property is located at 2436 S Wentworth Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 5‑unit apartment building with four renovated long‑term apartments; Furnished 2‑bedroom unit currently operating as an Airbnb; New roof completed in 2017 and exhaust vents added in 2023
