Brick 8-Unit Apartment
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For Sale
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4284 S Whitnall Avenue, Milwaukee, WI 53207
Eight two-bedroom apartments with updated windows and dedicated on-site parking in a residential setting.
Property Size6,528 SF
Price / SF$168.50
Days on Market5
Property Features for 4284 S Whitnall Avenue
General Information
Standard status
Active
Size
6,528 SF
Total Parking Spaces
8
Property subtype
Multifamily
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Building Details
Buildings
1
Construction
brick
Listing Agency:
The Hub Realty
Listed By:
Hunter Spear · License #59261-90
(262) 745-3864
Source:
Crexi
Added: Sep 14
Changed: Sep 18
Last Checked: Sep 18 at 6:01AM
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 Hub Realty
Investment Insights
Based on property information with market context.
This 6,528-square-foot brick apartment building contains eight two-bedroom, one-bath units. The apartments feature open-concept interiors, with kitchens arranged directly alongside the living areas. Vinyl replacement windows and a recently refinished asphalt parking lot are among the property improvements.
The property includes eight dedicated parking spaces, with additional tandem parking potential. Parking, tenant storage lockers, and utilities are not charged separately. Two apartments are expected to be vacant at closing, providing immediate flexibility for the next owner. The building is located at 4284 S Whitnall Avenue in Milwaukee, Wisconsin.
The property includes eight dedicated parking spaces, with additional tandem parking potential. Parking, tenant storage lockers, and utilities are not charged separately. Two apartments are expected to be vacant at closing, providing immediate flexibility for the next owner. The building is located at 4284 S Whitnall Avenue in Milwaukee, Wisconsin.
Key Highlights
- 8‑unit brick apartment building totaling 6,528 SF
- Eight 2BR/1BA apartments with open‑concept layouts
- Vinyl replacement windows
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
$60,801
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
5.53%
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%
$1,216,020
$1.2M
Cap Rate 7%
$868,586
$868.6K
Cap Rate 9%
$675,567
$675.6K
Market Conditions
NOI Build-Up for 6,528 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
$115.2K $17.64/SF
− Vacancy
−$4.6K −$0.71/SF
EGI
$110.5K $16.93/SF
− OpEx
−$49.7K −$7.62/SF
NOI
$60.8K $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%
$1,216,020
Cap Rate 7%
$868,586
Cap Rate 9%
$675,567
Alternative Uses
Best Use
Apartment 5plus
$868.6K
$760.0K – $1.01M
NOI $60,801 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,811 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom apartments with updated windows and dedicated on-site parking in a residential setting.
Where is this apartment building located?
The property is located at 4284 S Whitnall Avenue Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8‑unit brick apartment building totaling 6,528 SF; Eight 2BR/1BA apartments with open‑concept layouts; Vinyl replacement windows
