Four-Unit Quadplex with Private
For Sale
$474,000
2520 N Murray Ave, Milwaukee, WI 53211
Four matching apartments offer individual access, separate heat and electric utilities, and a side driveway with parking.
Property Size1,816 SF
Price / SF$261.01
Days on Market75
Property Features for 2520 N Murray Ave
General Information
Standard status
Active
Size
1,816 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1960
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Alan Alteri
(262) 786-4000
Source:
Nikolicgroup
Added: Aug 2
Changed: Oct 8
Last Checked: Oct 7 at 1:14PM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
Built in 1960, this four-unit Milwaukee property contains matching apartments, each with its own entrance. Heat and electric utilities are separately metered by unit, while the exterior is described as low maintenance. A side driveway provides approximately six parking spaces.
Located at 2520 N Murray Ave on Milwaukee’s Eastside, the property has rents currently below market, creating a defined value-add component for an investor evaluating operating income and future leasing performance.
Located at 2520 N Murray Ave on Milwaukee’s Eastside, the property has rents currently below market, creating a defined value-add component for an investor evaluating operating income and future leasing performance.
Key Highlights
- Four‑unit property with identical apartment layouts
- Private entrances for each unit
- Separate heat and electric utilities by apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,267
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,340
$365.3K
Cap Rate 7%
$260,957
$261.0K
Cap Rate 9%
$202,967
$203.0K
Market Conditions
NOI Build-Up for 1,816 SF
Gross rent
$27.2K $15.00/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$26.1K $14.37/SF
− OpEx
−$7.8K −$4.31/SF
NOI
$18.3K $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%
$365,340
Cap Rate 7%
$260,957
Cap Rate 9%
$202,967
Alternative Uses
Best Use
Multifamily LT 5
$261.0K
$228.3K – $304.5K
NOI $18,267 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$241.6K
$211.4K – $281.9K
NOI $16,914 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$436.4K
$381.9K – $509.1K
NOI $30,548 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching apartments offer individual access, separate heat and electric utilities, and a side driveway with parking.
Where is this quadplex located?
The property is located at 2520 N Murray Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $474,000.
What are key features of this property?
This property features: Four‑unit property with identical apartment layouts; Private entrances for each unit; Separate heat and electric utilities by apartment
