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Renovated Three-Unit Income Property
For Sale
$485,000
Pending

304 South Silver Lake Street, Oconomowoc, WI 53066

Completely renovated three-family residence with updated kitchens and bathrooms, plus a fenced yard and detached two-car garage.

Property Size16,988 SF
Days on Market96

Property Features for 304 South Silver Lake Street

General Information

Standard status Pending
Size 16,988 SF
Total Parking Spaces 2
Property subtype Multi-Family / Multi-Family
Net Operating Income $23,735

Additional Details

Fenced Yard Yes
Multifamily Units 3

Amenities

fenced back yard
detached garage
storage lockers
Laundry Facilities, Block, Partial, Full, Yes
Low Maintenance Trim, Vinyl, Stone

Building Details

Year Built 1901
Tenancy Multi
Listing Agency: Lakehomes
Listed By: Diane C Higgins · License #19745-90
Source: Compass
Added: Jun 3 Changed: Aug 8 Last Checked: Aug 4 at 11:05AM

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 Lakehomes

Investment Insights

Based on property information with market context.

This renovated three-unit property offers a main level 2-bedroom, 1-bath unit and two upper 1-bedroom, 1-bath units. The home has been updated in recent years, including three new kitchens and three new bathrooms. High ceilings and much of the original woodwork remain in place, and the basement is clean and dry with storage lockers and a shared washer and dryer.

Set on an extra-large lot with a private fenced-in backyard, the property also includes a detached two-car garage with walk-up storage. Located in the heart of Oconomowoc, the home is described as an easy walk to downtown offerings and a nearby beach.

Key Highlights

  • Completely renovated three‑family residence with (3) new kitchens and (3) new bathrooms
  • Unit mix: main level 2BR/1BA with two upper 1BR/1BA units
  • High ceilings with much of the original woodwork retained

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Grocery & Convenience Store Daycare Center (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Barber Shop Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard

Location Intelligence

Trade Area within ½ mile

955
Businesses Nearby

Demographics for 53066, WI

36,595
Population
16,074
Households
2.3
Avg Household Size
45
Median Age
47%
College-Educated
97%
High-School Grad
103.2 sq mi
ZIP Area
355
Density / Sq Mi
$111,348
Median Household Income
$55,563
Median Earnings
$1,263
Median Rent
$402,800
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Triplex - Completely renovated three-family residence with updated kitchens and bathrooms, plus a fenced yard and detached two-car garage.
Where is this triplex located?
The property is located at 304 South Silver Lake Street Oconomowoc, WI.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Completely renovated three‑family residence with (3) new kitchens and (3) new bathrooms; Unit mix: main level 2BR/1BA with two upper 1BR/1BA units; High ceilings with much of the original woodwork retained
More about this property
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