16-Unit Multifamily
For Sale
$2,480,000
Pending
4042 South Pine Avenue, Milwaukee, WI 53207
Sixteen units feature two bedrooms and one bathroom with in-unit washers and dryers.
Property Size13,656 SF
Days on Market75
Property Features for 4042 South Pine Avenue
General Information
Standard status
Pending
Size
13,656 SF
Property subtype
Multi-Family / Multi-Family
Net Operating Income
$178,484
Additional Details
Multifamily Units
16
Amenities
In-Unit Washers and Dryers
Aluminum Siding
Building Details
Year Built
1987
Listing Agency:
North Shore Realty Group, LLC.
Listed By:
Troy Owen · License #80044-94
(414) 208-7757
Source:
Compass
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 4 at 11:10AM
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 North Shore Realty Group, LLC.
Investment Insights
Based on property information with market context.
This 16-unit multifamily property offers consistently configured residences, with each unit featuring two bedrooms and one bathroom. The units also include in-unit washers and dryers, supporting convenient everyday living for tenants.
Located in the Tippecanoe neighborhood of Milwaukee, the property is listed for sale at 4042 South Pine Avenue in the 53207 zip code.
The building’s unit mix is uniform across all 16 units, which can simplify management and leasing for an owner.
Located in the Tippecanoe neighborhood of Milwaukee, the property is listed for sale at 4042 South Pine Avenue in the 53207 zip code.
The building’s unit mix is uniform across all 16 units, which can simplify management and leasing for an owner.
Key Highlights
- 16‑unit multifamily property in the Tippecanoe neighborhood of Milwaukee (53207).
- Built in 1987.
- All 16 units are 2‑bedroom, 1‑bathroom layouts.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,191
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,543,820
$2.5M
Cap Rate 7%
$1,817,014
$1.8M
Cap Rate 9%
$1,413,233
$1.4M
Market Conditions
NOI Build-Up for 13,656 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$240.9K $17.64/SF
− Vacancy
−$9.6K −$0.71/SF
EGI
$231.3K $16.93/SF
− OpEx
−$104.1K −$7.62/SF
NOI
$127.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,543,820
Cap Rate 7%
$1,817,014
Cap Rate 9%
$1,413,233
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,191 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,716 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
418
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Sixteen units feature two bedrooms and one bathroom with in-unit washers and dryers.
Where is this apartment building located?
The property is located at 4042 South Pine Avenue Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: 16‑unit multifamily property in the Tippecanoe neighborhood of Milwaukee (53207).; Built in 1987.; All 16 units are 2‑bedroom, 1‑bathroom layouts.
