Brick 4-Unit
For Sale
$450,000
Pending
2675 North 63rd Street, Milwaukee, WI 53213
Fully occupied brick quadplex with central A/C, private garage bays, basement laundry hookups, and locked storage.
Property Size3,672 SF
Days on Market181
Property Features for 2675 North 63rd Street
General Information
Standard status
Pending
Size
3,672 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Multi-Family
Occupancy
100%
Net Operating Income
$47,400
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
1
Amenities
central air conditioning
basement laundry hookups
locked storage
Laundry Facilities, Block, Full, Yes
Brick
Building Details
Year Built
1952
Construction
brick
Listing Agency:
RE/MAX Liberty
Listed By:
Uhl Plassmeyer Group* · License #52305-90
(262) 336-9000
Source:
Compass
Added: Mar 5
Changed: Aug 31
Last Checked: Aug 30 at 12:21PM
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 RE/MAX Liberty
Investment Insights
Based on property information with market context.
Built in 1952, this 3,672-square-foot brick quadplex contains four fully occupied apartments, each configured with two bedrooms, one bathroom, forced-air heat, and central A/C. The property includes a detached four-car garage with one bay assigned to each tenant, along with basement laundry hookups and locked storage for every unit.
Recent work includes a roof replacement, electrical box upgrades, water heaters installed in 2019 and 2025, updated smoke and CO detectors, and chimney inspection with new venting completed in October 2025. Several apartments have also been painted, cleaned, and updated. A recent fire inspection and completed water inspection support the property's documented maintenance history. The property is located at 2675 North 63rd Street in Milwaukee, Wisconsin 53213.
Recent work includes a roof replacement, electrical box upgrades, water heaters installed in 2019 and 2025, updated smoke and CO detectors, and chimney inspection with new venting completed in October 2025. Several apartments have also been painted, cleaned, and updated. A recent fire inspection and completed water inspection support the property's documented maintenance history. The property is located at 2675 North 63rd Street in Milwaukee, Wisconsin 53213.
Key Highlights
- Four fully occupied units, each with 2 bedrooms and 1 bathroom
- 3,672‑square‑foot brick quadplex built in 1952
- Detached 4‑car garage provides one bay per tenant
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
$36,937
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
8.21%
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%
$738,740
$738.7K
Cap Rate 7%
$527,671
$527.7K
Cap Rate 9%
$410,411
$410.4K
Market Conditions
NOI Build-Up for 3,672 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
$55.1K $15.00/SF
− Vacancy
−$2.3K −$0.63/SF
EGI
$52.8K $14.37/SF
− OpEx
−$15.8K −$4.31/SF
NOI
$36.9K $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 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%
$738,740
Cap Rate 7%
$527,671
Cap Rate 9%
$410,411
Alternative Uses
Best Use
Multifamily LT 5
$527.7K
$461.7K – $615.6K
NOI $36,937 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$488.6K
$427.5K – $570.0K
NOI $34,201 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$882.4K
$772.1K – $1.03M
NOI $61,769 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 53213, WI
26,469
Population
12,591
Households
2.1
Avg Household Size
37
Median Age
63%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
6,787
Density / Sq Mi
$94,144
Median Household Income
$59,472
Median Earnings
$1,228
Median Rent
$311,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied brick quadplex with central A/C, private garage bays, basement laundry hookups, and locked storage.
Where is this quadplex located?
The property is located at 2675 North 63rd Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four fully occupied units, each with 2 bedrooms and 1 bathroom; 3,672‑square‑foot brick quadplex built in 1952; Detached 4‑car garage provides one bay per tenant
