Cash-Flowing Triplex
6221 West Thurston Court Unit 6221A/6221B Milwaukee, WI 53218
6221 West Thurston Court Unit 6221A/6221B, Milwaukee, WI, 53218
$249,999
For Sale
$249,999
Triplex with two upstairs 1-bedroom units and a downstairs 2-bedroom unit using a sunroom as a third bedroom.
Property Size2,396 SF
Price / SF$104.34
Days on Market58
Property Features for 6221 West Thurston Court Unit 6221A/6221B
General Information
- Standard status
- Active
- Size
- 2,396 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1931
Listing agency
Homestead Realty, Inc
(414) 667-7389
Listed by
Own it Real Estate Solutions Team* · License #60248-90
(414) 667-7389
Source
Compass
Added: May 26 Updated: Jul 21 at 6:38AM Checked: Jul 21 at 6:38AM
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 Homestead Realty, Inc
Investment Insights
Based on property information with market context.
This cash-flowing triplex includes two upstairs 1-bedroom units and one downstairs 2-bedroom unit with a sunroom being used as a third bedroom. The property reports that all tenants have been in place for about a year, and two of the three units are described as Section 8. Updates include new water heaters and newer boilers that have been tuned up, along with additional improvements noted in the remarks.
The building provides a 3-car garage and is offered for sale as a residential income property. The current configuration offers a mix of 1-bedroom and 2-bedroom living arrangements, with the sunroom adding extra bedroom functionality for the downstairs unit.
With three separate units in a triplex layout and multiple mechanical upgrades already completed, the property is positioned as an income-oriented residential asset in Milwaukee, Wisconsin.
The building provides a 3-car garage and is offered for sale as a residential income property. The current configuration offers a mix of 1-bedroom and 2-bedroom living arrangements, with the sunroom adding extra bedroom functionality for the downstairs unit.
With three separate units in a triplex layout and multiple mechanical upgrades already completed, the property is positioned as an income-oriented residential asset in Milwaukee, Wisconsin.
Key Highlights
- Cashflowing triplex with two upstairs 1‑bedroom units and one downstairs 2‑bedroom unit using a sunroom as a 3rd bedroom
- Rents at $2,740 reported; two of three units are with Section 8
- Full basement; brick construction
Local Financial Insights For Apartment 5plus
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 | $44.0k | $18.36 |
| − Vacancy | −$2.6k | −$1.06 |
| EGI | $41.4k | $17.30 |
| − OpEx | −$18.6k | −$7.78 |
| NOI | $22.8k | $9.51 |
2,396 SF · lease $18.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$362.9K
$317.6K – $423.4K
NOI $25,405 @ 7.0% cap · market cap 10.16%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap · market cap 9.12%
Theoretical Best
Warehouse
$1.82M
$1.59M – $2.12M
NOI $127,132 @ 7.0% cap · market cap 50.85%
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 - Triplex with two upstairs 1-bedroom units and a downstairs 2-bedroom unit using a sunroom as a third bedroom.
Where is this triplex located?
The property is located at 6221 West Thurston Court Unit 6221A/6221B Milwaukee, WI.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Cashflowing triplex with two upstairs 1‑bedroom units and one downstairs 2‑bedroom unit using a sunroom as a 3rd bedroom; Rents at $2,740 reported; two of three units are with Section 8; Full basement; brick construction
