Five-Unit Apartment
For Sale
$580,000
8633 N Granville Rd, Milwaukee, WI 53224
RM1-zoned multifamily property offers a mix of apartment and townhouse layouts with shared basement laundry.
Property Size4,936 SF
Price / SF$117.50
Days on Market18
Property Features for 8633 N Granville Rd
General Information
Standard status
Active
Size
4,936 SF
Total Parking Spaces
10
Property subtype
Multi Family Home
Zoning
RM1: Multi Fam
Site & Location
Neighborhood
Granville Station
Units
Unit Mix
4 x 2BR/1BA, 1 x 3BR/1.5BA
Multifamily Units
5
Additional Details
Asking Price
$580,000
Tenant in Place
Yes
Amenities
coin-operated common laundry
security cameras
Building Details
Building Size
4,936 SF
Year Built
1973
Listing Agency:
Hanson & Co. Real Estate
Listed By:
Katrina Hanson · License #5686990
(262) 353-1800
Source:
Defererealestate
Added: Oct 15
Changed: Oct 29
Last Checked: Oct 29 at 6:32PM
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 Hanson & Co. Real Estate
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Investment Insights
Based on property information with market context.
This 4,936-square-foot apartment property contains five units: four with two bedrooms and one bathroom each, plus a townhouse with three bedrooms and one and a half bathrooms. Built in 1973, the building has updated appliances in every unit and coin-operated laundry in the basement. Unit improvements include LVP flooring, paint, lighting, and bathroom work. Building upgrades include a new furnace, two new water heaters, exterior smart lighting, smart heat tape, security cameras, and a master lock system.
The property is at 8633 N Granville Rd in Milwaukee and includes a 10-space parking lot. Zoning is RM1: Multi Fam. Leases are month-to-month, providing flexibility in lease terms.
The property is at 8633 N Granville Rd in Milwaukee and includes a 10-space parking lot. Zoning is RM1: Multi Fam. Leases are month-to-month, providing flexibility in lease terms.
Key Highlights
- Five units: four 2‑bedroom/1‑bath units and one 3‑bedroom/1.5‑bath townhouse
- 4,936 square feet; built in 1973
- RM1: Multi Fam zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,974
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,480
$919.5K
Cap Rate 7%
$656,771
$656.8K
Cap Rate 9%
$510,822
$510.8K
Market Conditions
NOI Build-Up for 4,936 SF
Gross rent
$87.1K $17.64/SF
− Vacancy
−$3.5K −$0.71/SF
EGI
$83.6K $16.93/SF
− OpEx
−$37.6K −$7.62/SF
NOI
$46.0K $9.31/SF
Area
Milwaukee, WI
Vacancy
4.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,480
Cap Rate 7%
$656,771
Cap Rate 9%
$510,822
Alternative Uses
Best Use
Apartment 5plus
$656.8K
$574.7K – $766.2K
NOI $45,974 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,031 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
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Business Placement
Demographics for 53224, WI
20,786
Population
8,530
Households
2.4
Avg Household Size
32
Median Age
27%
College-Educated
92%
High-School Grad
10.1 sq mi
ZIP Area
2,058
Density / Sq Mi
$69,727
Median Household Income
$44,745
Median Earnings
$1,160
Median Rent
$194,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - RM1-zoned multifamily property offers a mix of apartment and townhouse layouts with shared basement laundry.
Where is this apartment building located?
The property is located at 8633 N Granville Rd Milwaukee, WI.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Five units: four 2‑bedroom/1‑bath units and one 3‑bedroom/1.5‑bath townhouse; 4,936 square feet; built in 1973; RM1: Multi Fam zoning
