Fully Occupied
For Sale
$399,000
808 East Clarke Street Unit 810, Milwaukee, WI 53212
Four-unit apartment property with a varied mix of residential layouts.
Property Size3,300 SF
Price / SF$120.91
Days on Market326
Property Features for 808 East Clarke Street Unit 810
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multi-Family / Multi-Family
Occupancy
100%
Net Operating Income
$30,550
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR, 1 x studio
Multifamily Units
4
Amenities
Full, Yes
Wood
Building Details
Year Built
1894
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Ashley Haut · License #78137-94
(414) 510-1002
Source:
Compass
Added: Oct 12, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:23PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 3,300-square-foot quadplex contains four apartment units with distinct configurations: one three-bedroom residence, one two-bedroom residence, one one-bedroom residence, and one studio. The property was built in 1894 and is fully occupied, providing an established multifamily operating profile.
Interior details include full bathrooms and wood features. The unit mix accommodates a range of household sizes within a single apartment building, from studio living to three-bedroom occupancy.
Interior details include full bathrooms and wood features. The unit mix accommodates a range of household sizes within a single apartment building, from studio living to three-bedroom occupancy.
Key Highlights
- Four‑unit apartment building
- 3,300 square feet of property size
- Unit mix includes one 3‑bedroom, one 2‑bedroom, one 1‑bedroom, and one studio
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
$33,195
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
8.32%
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%
$663,900
$663.9K
Cap Rate 7%
$474,214
$474.2K
Cap Rate 9%
$368,833
$368.8K
Market Conditions
NOI Build-Up for 3,300 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
$49.5K $15.00/SF
− Vacancy
−$2.1K −$0.63/SF
EGI
$47.4K $14.37/SF
− OpEx
−$14.2K −$4.31/SF
NOI
$33.2K $10.06/SF
Area
Milwaukee, WI
Vacancy
4.20%
Lease Rate
$15.00 /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%
$663,900
Cap Rate 7%
$474,214
Cap Rate 9%
$368,833
Alternative Uses
Best Use
Multifamily LT 5
$474.2K
$414.9K – $553.3K
NOI $33,195 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$439.1K
$384.2K – $512.3K
NOI $30,736 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$793.0K
$693.9K – $925.2K
NOI $55,511 @ 7.0% cap · market cap 13.91%
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
800
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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 - Four-unit apartment property with a varied mix of residential layouts.
Where is this quadplex located?
The property is located at 808 East Clarke Street Unit 810 Milwaukee, WI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit apartment building; 3,300 square feet of property size; Unit mix includes one 3‑bedroom, one 2‑bedroom, one 1‑bedroom, and one studio
