24-Unit Brick Apartment
New
For Sale
$2,880,000
9729 W Hampton Ave, Milwaukee, WI 53225
The property offers two-bedroom, one-bathroom layouts and surface parking on an asphalt lot.
Property Size19,568 SF
Lot Size1.11 Acres
Price / SF$147.18
Days on Market6
Property Features for 9729 W Hampton Ave
General Information
Standard status
Active
Size
19,568 SF
Lot size
1.11 Acres
Property subtype
Multifamily
Occupancy
96%
Units
Unit Mix
24 x 2BR/1BA
Multifamily Units
24
Additional Details
Cap Rate
6.67%
Amenities
Well Maintained 24-Unit Apartment Building
Low Maintenance Exterior (Brick)
Professionally Managed By Same Owner for the Past 20-Plus Years
Adequate Surface Parking on Asphalt Paving
Building Details
Building Size
19,568 SF
Year Built
1965
Buildings
1
Units
24
Construction
brick
Listed By:
Blake Hanlon · License #License(s): WI: 89942-94
(262) 364-1918
Source:
Marcusmillichap
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 12 at 4:53PM
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 Blake Hanlon
Investment Insights
Based on property information with market context.
This 24-unit apartment property in Milwaukee occupies a 1.11-acre parcel. Built in 1965, the building contains 19,568 square feet and has a brick exterior with a pitched, composition-shingle roof. Each apartment is approximately 700 square feet, with two bedrooms and one bathroom. Many units have updated flooring, countertops, stainless steel appliances, and tub surrounds.
Surface parking is available on site. The owner pays common-area electricity, gas, water and sewer, and trash and recycling costs; tenants pay their own electricity. The same owner has professionally managed the property for more than 20 years.
Surface parking is available on site. The owner pays common-area electricity, gas, water and sewer, and trash and recycling costs; tenants pay their own electricity. The same owner has professionally managed the property for more than 20 years.
Key Highlights
- 24 apartments on a 1.11‑acre parcel
- 19,568 square feet; constructed in 1965
- Approximately 700‑square‑foot units with two bedrooms and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,255
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,645,100
$3.6M
Cap Rate 7%
$2,603,643
$2.6M
Cap Rate 9%
$2,025,056
$2.0M
Market Conditions
NOI Build-Up for 19,568 SF
Gross rent
$345.2K $17.64/SF
− Vacancy
−$13.8K −$0.71/SF
EGI
$331.4K $16.93/SF
− OpEx
−$149.1K −$7.62/SF
NOI
$182.3K $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%
$3,645,100
Cap Rate 7%
$2,603,643
Cap Rate 9%
$2,025,056
Alternative Uses
Best Use
Apartment 5plus
$2.60M
$2.28M – $3.04M
NOI $182,255 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.49M
NOI $329,165 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 53225, WI
25,138
Population
11,019
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
91%
High-School Grad
7.0 sq mi
ZIP Area
3,591
Density / Sq Mi
$54,433
Median Household Income
$40,463
Median Earnings
$1,094
Median Rent
$174,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - The property offers two-bedroom, one-bathroom layouts and surface parking on an asphalt lot.
Where is this apartment building located?
The property is located at 9729 W Hampton Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,880,000.
What are key features of this property?
This property features: 24 apartments on a 1.11‑acre parcel; 19,568 square feet; constructed in 1965; Approximately 700‑square‑foot units with two bedrooms and one bathroom
