Quadplex with New
For Sale
$395,000
6410 West National Avenue, West Allis, WI 53214
Fully occupied four-unit property with a balanced bedroom mix, hardwood floors, and off-street tenant parking.
Property Size3,000 SF
Price / SF$131.67
Days on Market171
Property Features for 6410 West National Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 2 x 3BR/1BA
Multifamily Units
4
Amenities
hardwood floors
Full, Yes
Aluminum Siding
Building Details
Year Built
1908
Buildings
1
Listing Agency:
Realty of America LLC
(414) 841-1615
Listed By:
David B. Castillo · License #90947-94
(414) 841-1615
Source:
Compass
Added: Mar 14
Changed: Aug 30
Last Checked: Aug 30 at 3:58PM
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 Realty of America LLC
Investment Insights
Based on property information with market context.
This four-unit property contains two two-bedroom residences and two three-bedroom residences, each with one full bathroom. Approximately 3,000 square feet is located above grade, with hardwood flooring and aluminum siding among the existing features. A full tear-off roof was completed in 2025, and updates have been made to the furnaces and water heaters.
The property includes six off-street parking spaces and is fully tenant-occupied. Located on West National Avenue in West Allis, the building is near shopping, dining, and commuter routes.
The property includes six off-street parking spaces and is fully tenant-occupied. Located on West National Avenue in West Allis, the building is near shopping, dining, and commuter routes.
Key Highlights
- Four units with two 2‑bedroom and two 3‑bedroom residences
- Approximately 3,000 square feet above grade
- Full tear‑off roof completed in 2025
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
$32,149
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
8.14%
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%
$642,980
$643.0K
Cap Rate 7%
$459,271
$459.3K
Cap Rate 9%
$357,211
$357.2K
Market Conditions
NOI Build-Up for 3,000 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
$48.6K $16.20/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$45.9K $15.31/SF
− OpEx
−$13.8K −$4.59/SF
NOI
$32.1K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$642,980
Cap Rate 7%
$459,271
Cap Rate 9%
$357,211
Alternative Uses
Best Use
Multifamily LT 5
$459.3K
$401.9K – $535.8K
NOI $32,149 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$410.3K
$359.0K – $478.7K
NOI $28,719 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$711.4K
$622.5K – $830.0K
NOI $49,799 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
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 - Fully occupied four-unit property with a balanced bedroom mix, hardwood floors, and off-street tenant parking.
Where is this quadplex located?
The property is located at 6410 West National Avenue West Allis, WI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Four units with two 2‑bedroom and two 3‑bedroom residences; Approximately 3,000 square feet above grade; Full tear‑off roof completed in 2025
