Brick
For Sale
$350,000
6107 West Leon Terrace, Milwaukee, WI 53218
Three units are occupied, while the remaining unit is vacant for immediate use.
Property Size3,186 SF
Lot Size0.25 Acres
Price / SF$109.86
Days on Market150
Property Features for 6107 West Leon Terrace
General Information
Standard status
Active
Size
3,186 SF
Lot size
0.25 Acres
Property subtype
Multi-Family / Multi-Family
Occupancy
75%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
Block, Full, Yes
Brick
Building Details
Year Built
1958
Construction
brick
Listing Agency:
Keller Williams Realty-Milwaukee North Shore
(414) 914-5300
Listed By:
Falk Ruvin Gallagher Team* · License #48420-90
(414) 914-5300
Source:
Compass
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 4:55AM
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 Keller Williams Realty-Milwaukee North Shore
Investment Insights
Based on property information with market context.
Located at 6107 West Leon Terrace in Milwaukee, this brick quadplex contains 3,186 square feet arranged as four two-bedroom, one-bath units. Built in 1958, the property includes full basements and brick construction, with parking for more than 10 vehicles on a quarter-acre lot.
Three apartments are currently occupied and one is vacant, providing a mix of existing tenancy and available space. The property sits along a residential street characterized by single-family homes and duplexes, offering a neighborhood setting for a four-unit residential asset.
Three apartments are currently occupied and one is vacant, providing a mix of existing tenancy and available space. The property sits along a residential street characterized by single-family homes and duplexes, offering a neighborhood setting for a four-unit residential asset.
Key Highlights
- 3,186‑square‑foot quadplex with four 2‑bedroom, 1‑bath units
- Brick construction with full basements
- Three units occupied; one unit vacant
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
$30,306
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
8.66%
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%
$606,120
$606.1K
Cap Rate 7%
$432,943
$432.9K
Cap Rate 9%
$336,733
$336.7K
Market Conditions
NOI Build-Up for 3,186 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
$58.5K $18.36/SF
− Vacancy
−$3.4K −$1.06/SF
EGI
$55.1K $17.30/SF
− OpEx
−$24.8K −$7.78/SF
NOI
$30.3K $9.51/SF
Area
ZIP 53218
Vacancy
5.80%
Lease Rate
$18.36 /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%
$606,120
Cap Rate 7%
$432,943
Cap Rate 9%
$336,733
Alternative Uses
Best Use
Multifamily LT 5
$482.6K
$422.3K – $563.0K
NOI $33,781 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$432.9K
$378.8K – $505.1K
NOI $30,306 @ 7.0% cap · market cap 8.66%
Theoretical Best
Warehouse
$2.41M
$2.11M – $2.82M
NOI $169,049 @ 7.0% cap · market cap 48.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 53218, WI
38,488
Population
15,971
Households
2.4
Avg Household Size
31
Median Age
10%
College-Educated
83%
High-School Grad
5.9 sq mi
ZIP Area
6,523
Density / Sq Mi
$42,207
Median Household Income
$33,622
Median Earnings
$1,034
Median Rent
$122,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three units are occupied, while the remaining unit is vacant for immediate use.
Where is this quadplex located?
The property is located at 6107 West Leon Terrace Milwaukee, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,186‑square‑foot quadplex with four 2‑bedroom, 1‑bath units; Brick construction with full basements; Three units occupied; one unit vacant
