12-Unit Multifamily Apartment
2613 West Capitol Drive Milwaukee, WI 53206
2613 West Capitol Drive, Milwaukee, WI, 53206
$689,900
For Sale
$689,900
Twelve-unit multifamily property near Rufus King High School with access to public transit and the interstate.
Property Size4,791 SF
Price / SF$143
Days on Market230
Property Features for 2613 West Capitol Drive
General Information
- Standard status
- Active
- Size
- 4,791 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1928
Listing agency
Keller Williams-MNS Wauwatosa
(414) 517-3387
Listed by
Holly T Speranza · License #56826-90
(414) 517-3387
Source
Compass
Added: Dec 4, 2025 Updated: Jul 21 at 9:33PM Checked: Jul 21 at 9:33PM
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 Keller Williams-MNS Wauwatosa
Investment Insights
Based on property information with market context.
This 12-unit multifamily apartment building is offered for sale at 2613 West Capitol Drive in Milwaukee. The property is positioned as a straightforward income-producing investment with room for value-add through future rent adjustments, supported by its current operating income.
The building is located in the Franklin Heights neighborhood and is described as just minutes from Rufus King High School. It also sits near the shops, restaurants, and businesses along Capitol Drive. Tenants are expected to benefit from easy access to public transit and the interstate, supporting commuter convenience.
Overall, the asset combines a 12-unit apartment configuration with a location that offers everyday amenities and multiple transportation options.
The building is located in the Franklin Heights neighborhood and is described as just minutes from Rufus King High School. It also sits near the shops, restaurants, and businesses along Capitol Drive. Tenants are expected to benefit from easy access to public transit and the interstate, supporting commuter convenience.
Overall, the asset combines a 12-unit apartment configuration with a location that offers everyday amenities and multiple transportation options.
Key Highlights
- 12‑unit multifamily property in Milwaukee’s Franklin Heights neighborhood
- Brick construction with a full basement
- Year built: 1928
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 | $84.5k | $17.64 |
| − Vacancy | −$3.4k | −$0.71 |
| EGI | $81.1k | $16.93 |
| − OpEx | −$36.5k | −$7.62 |
| NOI | $44.6k | $9.31 |
4,791 SF · lease $17.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$637.5K
$557.8K – $743.7K
NOI $44,623 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,592 @ 7.0% cap · market cap 11.68%
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 - Twelve-unit multifamily property near Rufus King High School with access to public transit and the interstate.
Where is this apartment building located?
The property is located at 2613 West Capitol Drive Milwaukee, WI.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: 12‑unit multifamily property in Milwaukee’s Franklin Heights neighborhood; Brick construction with a full basement; Year built: 1928
