Three-Unit Residential Income
421 Central Avenue Unit 123&123 5 Waukesha, WI 53186
421 Central Avenue Unit 123&123 5, Waukesha, WI, 53186
$310,000
Pending
For Sale
$310,000
Pending
Three well-maintained units include two one-bedrooms and one two-bedroom with private tenant access and shared laundry/storage basement.
Property Size1,964 SF
Days on Market27
Property Features for 421 Central Avenue Unit 123&123 5
General Information
- Standard status
- Pending
- Size
- 1,964 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker HomeSale Realty - Wauwatosa
(262) 844-0067
Listed by
Martin Larson · License #46956-90
(262) 844-0067
Source
Compass
Added: Jun 26 Updated: Jul 21 at 1:07PM Checked: Jul 21 at 1:07PM
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 Coldwell Banker HomeSale Realty - Wauwatosa
Investment Insights
Based on property information with market context.
This three-unit residential income building offers two one-bedroom units and one two-bedroom unit. The property is described as cute and clean, with a well-maintained condition and many updates. A unique layout provides each tenant with private access while sharing a basement area that includes laundry and storage. Tenants are responsible for their own utilities, including water/sewer. The building is currently tenant occupied and was owner occupied for 9 years.
The asset is located in the heart of the Carroll U housing area, with nearby access to the public library and downtown restaurants, shops, and bars for entertainment.
The asset is located in the heart of the Carroll U housing area, with nearby access to the public library and downtown restaurants, shops, and bars for entertainment.
Key Highlights
- Three‑unit building with 2 one‑bedroom units and 1 two‑bedroom unit
- Unique layout provides each tenant with private access plus a shared basement area for laundry and storage
- Shared basement includes laundry facilities and a full walk‑out/outer door basement
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.7k | $17.16 |
| − Vacancy | −$1.5k | −$0.77 |
| EGI | $32.2k | $16.39 |
| − OpEx | −$9.7k | −$4.92 |
| NOI | $22.5k | $11.47 |
1,964 SF · lease $17.16/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$298.0K
$260.8K – $347.7K
NOI $20,862 @ 7.0% cap · market cap 6.73%
Theoretical Best
Flex RnD
$1.00M
$877.1K – $1.17M
NOI $70,166 @ 7.0% cap · market cap 22.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three well-maintained units include two one-bedrooms and one two-bedroom with private tenant access and shared laundry/storage basement.
Where is this triplex located?
The property is located at 421 Central Avenue Unit 123&123 5 Waukesha, WI.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Three‑unit building with 2 one‑bedroom units and 1 two‑bedroom unit; Unique layout provides each tenant with private access plus a shared basement area for laundry and storage; Shared basement includes laundry facilities and a full walk‑out/outer door basement
