3-Unit
For Sale
$295,000
930 E Locust St, Milwaukee, WI 53212
A long-held Milwaukee property offers three residential units in an established neighborhood.
Property Size2,797 SF
Price / SF$105.47
Days on Market28
Property Features for 930 E Locust St
General Information
Standard status
Active
Size
2,797 SF
Property subtype
Multi Family Home
Zoning
LB2
Site & Location
Neighborhood
Riverwest
Additional Details
Multifamily Units
3
Building Details
Building Size
2,797 SF
Year Built
1905
Buildings
1
Listing Agency:
Doperalski Realty & Associates, LLC
(262) 898-3990
Listed By:
David Schneider
(414) 217-6100
Source:
Birchwoodpropertiesllc
Added: Oct 8
Changed: Nov 4
Last Checked: Nov 4 at 2:19AM
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 Doperalski Realty & Associates, LLC
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Investment Insights
Based on property information with market context.
This 3-unit residential building contains 2,797 square feet and dates to 1905. It is classified as a triplex, with LB2 zoning.
Located at 930 E Locust St in Milwaukee’s Riverwest neighborhood, the property has remained under the same ownership for more than 40 years.
Located at 930 E Locust St in Milwaukee’s Riverwest neighborhood, the property has remained under the same ownership for more than 40 years.
Key Highlights
- Three residential units
- 2,797 square feet
- Built in 1905
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,051
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,020
$521.0K
Cap Rate 7%
$372,157
$372.2K
Cap Rate 9%
$289,456
$289.5K
Market Conditions
NOI Build-Up for 2,797 SF
Gross rent
$49.3K $17.64/SF
− Vacancy
−$2.0K −$0.71/SF
EGI
$47.4K $16.93/SF
− OpEx
−$21.3K −$7.62/SF
NOI
$26.1K $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%
$521,020
Cap Rate 7%
$372,157
Cap Rate 9%
$289,456
Alternative Uses
Best Use
Multifamily LT 5
$401.9K
$351.7K – $468.9K
NOI $28,135 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$372.2K
$325.6K – $434.2K
NOI $26,051 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$672.1K
$588.1K – $784.2K
NOI $47,050 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
653
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - A long-held Milwaukee property offers three residential units in an established neighborhood.
Where is this triplex located?
The property is located at 930 E Locust St Milwaukee, WI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Three residential units; 2,797 square feet; Built in 1905
