Updated Two-Unit
For Sale
$265,000
2940 N 60th St, Milwaukee, WI 53210
1929 duplex with two leased apartments, period character, and substantial property improvements completed since 2017.
Property Size2,114 SF
Price / SF$125.35
Days on Market73
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Property Features for 2940 N 60th St
General Information
Standard status
Active
Size
2,114 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1929
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Lakeside-Central
Listed By:
Benson Group* · License #3904890
(414) 881-0058
Source:
Levelupwi
Added: Aug 4
Changed: Oct 12
Last Checked: Oct 15 at 1:15AM
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 Lakeside-Central
Investment Insights
Based on property information with market context.
This 2,114-square-foot duplex, built in 1929, contains two two-bedroom, one-bath apartments. Interior features include hardwood flooring, formal dining rooms, built-in china cabinets, living rooms with artificial fireplaces, and integrated bookcases. The property combines original character with improvements completed since 2017, including refinished floors, a new roof, gutters, windows, driveway, and parking pad.
Both apartments are leased through 12/31/26, and the lower unit has a long-term tenant. The property is located at 2940 N 60th St in Milwaukee, Wisconsin, providing a defined two-unit residential income configuration with established tenancy and recent exterior and interior updates.
Both apartments are leased through 12/31/26, and the lower unit has a long-term tenant. The property is located at 2940 N 60th St in Milwaukee, Wisconsin, providing a defined two-unit residential income configuration with established tenancy and recent exterior and interior updates.
Key Highlights
- Two 2BR/1BA units within a 2,114‑square‑foot duplex
- Both tenants have leases extending through 12/31/26
- Lower apartment has a long‑term tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,265
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,300
$425.3K
Cap Rate 7%
$303,786
$303.8K
Cap Rate 9%
$236,278
$236.3K
Market Conditions
NOI Build-Up for 2,114 SF
Gross rent
$31.7K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$30.4K $14.37/SF
− OpEx
−$9.1K −$4.31/SF
NOI
$21.3K $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%
$425,300
Cap Rate 7%
$303,786
Cap Rate 9%
$236,278
Alternative Uses
Best Use
Multifamily LT 5
$303.8K
$265.8K – $354.4K
NOI $21,265 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$281.3K
$246.1K – $328.2K
NOI $19,690 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$508.0K
$444.5K – $592.7K
NOI $35,561 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 53210, WI
25,588
Population
11,005
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
9,842
Density / Sq Mi
$45,268
Median Household Income
$35,797
Median Earnings
$1,044
Median Rent
$153,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - 1929 duplex with two leased apartments, period character, and substantial property improvements completed since 2017.
Where is this duplex located?
The property is located at 2940 N 60th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two 2BR/1BA units within a 2,114‑square‑foot duplex; Both tenants have leases extending through 12/31/26; Lower apartment has a long‑term tenant
