8-Unit Brick Apartment
For Sale
$789,900
5823 W Appleton Ave, Milwaukee, WI 53210
The apartment property offers a mix of one- and two-bedroom layouts with hardwood floors and original woodwork.
Property Size6,536 SF
Price / SF$120.85
Days on Market10
Property Features for 5823 W Appleton Ave
General Information
Standard status
Active
Size
6,536 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
8
Building Details
Year Built
1929
Construction
brick-exterior
Listing Agency:
RE/MAX Lakeside-Central
Listed By:
Hoffmann Team* · License #5480794
(414) 897-0098
Source:
Homesinwisconsin
Added: Oct 12
Changed: Oct 19
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 RE/MAX Lakeside-Central
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Investment Insights
Based on property information with market context.
This 8-unit apartment building has a brick exterior and a mix of 1-bedroom and 2-bedroom apartments. The 6,536-square-foot property was built in 1929 and features hardwood floors, woodwork, and arched entryways. Its period details contribute to the building’s established residential character.
Located at 5823 W Appleton Ave in Milwaukee, the property combines multiple apartment layouts with distinctive architectural details in a single building.
Located at 5823 W Appleton Ave in Milwaukee, the property combines multiple apartment layouts with distinctive architectural details in a single building.
Key Highlights
- 8 apartments with a mix of 1‑bedroom and 2‑bedroom layouts
- 6,536‑square‑foot brick building constructed in 1929
- Arched entryways, hardwood flooring, and natural woodwork
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,876
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,520
$1.2M
Cap Rate 7%
$869,657
$869.7K
Cap Rate 9%
$676,400
$676.4K
Market Conditions
NOI Build-Up for 6,536 SF
Gross rent
$115.3K $17.64/SF
− Vacancy
−$4.6K −$0.71/SF
EGI
$110.7K $16.93/SF
− OpEx
−$49.8K −$7.62/SF
NOI
$60.9K $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%
$1,217,520
Cap Rate 7%
$869,657
Cap Rate 9%
$676,400
Alternative Uses
Best Use
Apartment 5plus
$869.7K
$761.0K – $1.01M
NOI $60,876 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,946 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 53210, WI
25,588
Population
11,005
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
9,842
Density / Sq Mi
$45,268
Median Household Income
$35,797
Median Earnings
$1,044
Median Rent
$153,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The apartment property offers a mix of one- and two-bedroom layouts with hardwood floors and original woodwork.
Where is this apartment building located?
The property is located at 5823 W Appleton Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: 8 apartments with a mix of 1‑bedroom and 2‑bedroom layouts; 6,536‑square‑foot brick building constructed in 1929; Arched entryways, hardwood flooring, and natural woodwork
