Multifamily Property Requiring
For Sale
Contact for pricing
3901 N 3rd St, Milwaukee, WI 53212
As-is multifamily property requiring substantial renovation and completion of essential repairs.
Property Size1,476 SF
Price / SF$3.39
Days on Market85
Property Features for 3901 N 3rd St
General Information
Standard status
Active
Size
1,476 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
substantial renovations will be required
Building Details
Year Built
1890
Listing Agency:
The Rosemont Group Realty LLC
Listed By:
Tammy Lowney · License #5492490
(414) 399-0778
Source:
Levelupwi
Added: Jul 30
Changed: Oct 12
Last Checked: Oct 7 at 1:03PM
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 The Rosemont Group Realty LLC
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Investment Insights
Based on property information with market context.
This multifamily property was constructed in 1890 and is offered in as-is condition. Substantial renovation is required, with essential repairs subject to completion within 180 days. A performance deposit is required, and the City must provide proof that the required work has been completed for the deposit to be returned.
The property is located at 3901 N 3rd St in Milwaukee’s District 6. It is a City of Milwaukee tax foreclosure property and should be approached with caution during entry. No unit count, floor plan, or additional building specifications are provided.
The property is located at 3901 N 3rd St in Milwaukee’s District 6. It is a City of Milwaukee tax foreclosure property and should be approached with caution during entry. No unit count, floor plan, or additional building specifications are provided.
Key Highlights
- 1890 construction
- Substantial renovation required; property offered in as‑is condition
- Essential repairs must be completed within 180 days
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,747
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,940
$274.9K
Cap Rate 7%
$196,386
$196.4K
Cap Rate 9%
$152,744
$152.7K
Market Conditions
NOI Build-Up for 1,476 SF
Gross rent
$26.0K $17.64/SF
− Vacancy
−$1.0K −$0.71/SF
EGI
$25.0K $16.93/SF
− OpEx
−$11.2K −$7.62/SF
NOI
$13.7K $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%
$274,940
Cap Rate 7%
$196,386
Cap Rate 9%
$152,744
Alternative Uses
Best Use
Apartment 5plus
$196.4K
$171.8K – $229.1K
NOI $13,747 @ 7.0% cap · market cap 274.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$354.7K
$310.4K – $413.8K
NOI $24,829 @ 7.0% cap · market cap 496.58%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
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Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - As-is multifamily property requiring substantial renovation and completion of essential repairs.
Where is this multifamily property located?
The property is located at 3901 N 3rd St Milwaukee, WI.
What are key features of this property?
This property features: 1890 construction; Substantial renovation required; property offered in as‑is condition; Essential repairs must be completed within 180 days
