Occupied Apartment
For Sale
$1,155,000
6215 7th Ave, Kenosha, WI 53143
Two-building property with mixed bedroom layouts, a separate garage structure, and full occupancy.
Property Size7,730 SF
Price / SF$149.42
Days on Market34
Property Features for 6215 7th Ave
General Information
Standard status
Active
Size
7,730 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$71,491
Units
Unit Mix
9 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
10
Additional Details
Gross Income
$104,580
Building Details
Year Built
1920
Buildings
2
Listing Agency:
Compass RE WI-Northshore
(850) 554-3142
Listed By:
The Collaboration Group* · License #BK3153120
Source:
Nikolicgroup
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 8:16PM
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 Compass RE WI-Northshore
Investment Insights
Based on property information with market context.
This apartment property contains 10 units arranged between a six-unit front building and a four-unit rear building. The unit mix includes nine one-bedroom, one-bath residences and one two-bedroom, one-bath residence. All units are fully occupied. A separate 12-car garage building adds supplemental rental income, with 5/12 spaces currently generating income. The front building uses a gas boiler for heat, while the rear building has gas furnaces and A/C.
The property consists of two separate parcels and is located a short distance from Downtown Kenosha, Library Park, and Lake Michigan. Built in 1920, the asset combines multiple residential structures with garage storage and established occupancy in a centrally situated Kenosha setting.
The property consists of two separate parcels and is located a short distance from Downtown Kenosha, Library Park, and Lake Michigan. Built in 1920, the asset combines multiple residential structures with garage storage and established occupancy in a centrally situated Kenosha setting.
Key Highlights
- 10 units across a six‑unit front building and four‑unit rear building
- Unit mix includes nine 1BR/1BA units and one 2BR/1BA unit
- All units are fully occupied
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
$70,647
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
6.12%
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%
$1,412,940
$1.4M
Cap Rate 7%
$1,009,243
$1.0M
Cap Rate 9%
$784,967
$785.0K
Market Conditions
NOI Build-Up for 7,730 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
$136.4K $17.64/SF
− Vacancy
−$7.9K −$1.02/SF
EGI
$128.4K $16.62/SF
− OpEx
−$57.8K −$7.48/SF
NOI
$70.6K $9.14/SF
Area
Kenosha County, WI
Vacancy
5.80%
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%
$1,412,940
Cap Rate 7%
$1,009,243
Cap Rate 9%
$784,967
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$883.1K – $1.18M
NOI $70,647 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.00M
$7.87M – $10.50M
NOI $629,964 @ 7.0% cap · market cap 54.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 53143, WI
22,702
Population
9,118
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
5,537
Density / Sq Mi
$67,105
Median Household Income
$40,276
Median Earnings
$1,157
Median Rent
$186,600
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 - Two-building property with mixed bedroom layouts, a separate garage structure, and full occupancy.
Where is this apartment building located?
The property is located at 6215 7th Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $1,155,000.
What are key features of this property?
This property features: 10 units across a six‑unit front building and four‑unit rear building; Unit mix includes nine 1BR/1BA units and one 2BR/1BA unit; All units are fully occupied
