Updated 12-Unit Apartment
For Sale
$1,050,000
3313 W Wells St, Milwaukee, WI 53208
Well-maintained multifamily property with varied apartment layouts, off-street parking, basement laundry, and building system updates.
Property Size9,675 SF
Price / SF$108.53
Days on Market64
Property Features for 3313 W Wells St
General Information
Standard status
Active
Size
9,675 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Units
Unit Mix
6 x 1BR, 3 x 1BR with dining room, 3 x 2BR with dining room
Multifamily Units
12
Amenities
basement coin laundry
Building Details
Year Built
1923
Buildings
1
Listing Agency:
Streamline Commercial Real Estate, LLC
Listed By:
Brian Gingrass · License #5641490
(414) 839-5694
Source:
Viewhomesinwisconsin
Added: Aug 19
Changed: Oct 1
Last Checked: Oct 20 at 10:11PM
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 Streamline Commercial Real Estate, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 12-unit apartment building, constructed in 1923, includes six one-bedroom apartments, three one-bedroom units with dining rooms, and three two-bedroom units with dining rooms. Several units have been updated, while the property also includes basement coin-operated laundry and eight off-street parking spaces.
Building improvements include updated electrical service, a high-efficiency boiler, and a roof replaced in 2016. The property has been held by the same owner for nearly 25 years. Tenant access is subject to advance permission.
Building improvements include updated electrical service, a high-efficiency boiler, and a roof replaced in 2016. The property has been held by the same owner for nearly 25 years. Tenant access is subject to advance permission.
Key Highlights
- 12‑unit apartment building built in 1923
- Unit mix includes six 1‑bedrooms, three 1‑bedrooms with dining rooms, and three 2‑bedrooms with dining rooms
- Updated units, electrical system, and high‑efficiency boiler
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,112
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,802,240
$1.8M
Cap Rate 7%
$1,287,314
$1.3M
Cap Rate 9%
$1,001,244
$1.0M
Market Conditions
NOI Build-Up for 9,675 SF
Gross rent
$170.7K $17.64/SF
− Vacancy
−$6.8K −$0.71/SF
EGI
$163.8K $16.93/SF
− OpEx
−$73.7K −$7.62/SF
NOI
$90.1K $9.31/SF
Area
Milwaukee, WI
Vacancy
4.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,802,240
Cap Rate 7%
$1,287,314
Cap Rate 9%
$1,001,244
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,112 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,749 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with varied apartment layouts, off-street parking, basement laundry, and building system updates.
Where is this apartment building located?
The property is located at 3313 W Wells St Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 12‑unit apartment building built in 1923; Unit mix includes six 1‑bedrooms, three 1‑bedrooms with dining rooms, and three 2‑bedrooms with dining rooms; Updated units, electrical system, and high‑efficiency boiler
