Two-Unit
For Sale
$348,900
3026 S Hanson Ave Unit 3028, Milwaukee, WI 53207
Each residence has three bedrooms, one full bathroom, and a separate living area.
Property Size2,302 SF
Price / SF$151.56
Days on Market8
Property Features for 3026 S Hanson Ave Unit 3028
General Information
Standard status
Active
Size
2,302 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1924
Buildings
1
Listing Agency:
Keller Williams-MNS Wauwatosa
Listed By:
Holly Speranza · License #56826
(414) 962-3605
Source:
Jwregwi
Added: Oct 7
Last Checked: Oct 7 at 2:15PM
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 Milwaukee duplex contains two residences, each arranged with three bedrooms, one full bathroom, and a living area. The property was built in 1924 and is located in the Bay View neighborhood at 3026 S Hanson Ave, with Unit 3028 also included.
Nearby destinations include Humboldt Park, South Shore Park and Beach, and the Bay View Community Center. The Kinnickinnic Avenue corridor, with restaurants, coffee shops, and boutiques, is also in the surrounding area. I-794 provides access toward downtown Milwaukee.
Nearby destinations include Humboldt Park, South Shore Park and Beach, and the Bay View Community Center. The Kinnickinnic Avenue corridor, with restaurants, coffee shops, and boutiques, is also in the surrounding area. I-794 provides access toward downtown Milwaukee.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bathroom
- Built in 1924
- Located in Milwaukee's Bay View neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,156
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,120
$463.1K
Cap Rate 7%
$330,800
$330.8K
Cap Rate 9%
$257,289
$257.3K
Market Conditions
NOI Build-Up for 2,302 SF
Gross rent
$34.5K $15.00/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$33.1K $14.37/SF
− OpEx
−$9.9K −$4.31/SF
NOI
$23.2K $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%
$463,120
Cap Rate 7%
$330,800
Cap Rate 9%
$257,289
Alternative Uses
Best Use
Multifamily LT 5
$330.8K
$289.5K – $385.9K
NOI $23,156 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$306.3K
$268.0K – $357.4K
NOI $21,441 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$553.2K
$484.0K – $645.4K
NOI $38,723 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
531
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
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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?
Duplex - Each residence has three bedrooms, one full bathroom, and a separate living area.
Where is this duplex located?
The property is located at 3026 S Hanson Ave Unit 3028 Milwaukee, WI.
What is the asking price?
The asking price for this property is $348,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bathroom; Built in 1924; Located in Milwaukee's Bay View neighborhood
