Four-Unit Quadplex With Indoor
For Sale
$699,900
S16w22081 Arcadian Ave, Waukesha, WI 53186
Two buildings provide indoor parking along with lower-level laundry and storage areas.
Property Size4,368 SF
Lot Size1.83 Acres
Price / SF$160.23
Days on Market45
Property Features for S16w22081 Arcadian Ave
General Information
Standard status
Active
Size
4,368 SF
Lot size
1.83 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Multifamily Units
4
Parking per Unit
1
Building Details
Year Built
1930
Buildings
2
Listing Agency:
Modern Realty LLC
(262) 227-9840
Listed By:
Sara Pakula
Source:
Homesinwisconsin
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 29 at 11:55PM
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 Modern Realty LLC
Investment Insights
Based on property information with market context.
This 4,368-square-foot quadplex comprises two separate two-family buildings, creating four residential units on a 1.83-acre parcel. Constructed in 1930, the property uses a multi-building configuration rather than a single structure. All four units are currently rented.
Each unit includes one indoor parking space, while lower-level areas provide room for laundry and storage. The property is located at S16w22081 Arcadian Ave in Waukesha, Wisconsin. The parcel cannot be split, and any future development plans would require confirmation with the municipality.
Each unit includes one indoor parking space, while lower-level areas provide room for laundry and storage. The property is located at S16w22081 Arcadian Ave in Waukesha, Wisconsin. The parcel cannot be split, and any future development plans would require confirmation with the municipality.
Key Highlights
- Two two‑family buildings contain 4 residential units
- 4,368 SF property built in 1930
- All 4 units are currently rented
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
$50,107
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
7.16%
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%
$1,002,140
$1.0M
Cap Rate 7%
$715,814
$715.8K
Cap Rate 9%
$556,744
$556.7K
Market Conditions
NOI Build-Up for 4,368 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
$75.0K $17.16/SF
− Vacancy
−$3.4K −$0.77/SF
EGI
$71.6K $16.39/SF
− OpEx
−$21.5K −$4.92/SF
NOI
$50.1K $11.47/SF
Area
Waukesha County, WI
Vacancy
4.50%
Lease Rate
$17.16 /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%
$1,002,140
Cap Rate 7%
$715,814
Cap Rate 9%
$556,744
Alternative Uses
Best Use
Multifamily LT 5
$715.8K
$626.3K – $835.1K
NOI $50,107 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$662.8K
$580.0K – $773.3K
NOI $46,398 @ 7.0% cap · market cap 6.63%
Theoretical Best
Flex RnD
$2.23M
$1.95M – $2.60M
NOI $156,051 @ 7.0% cap · market cap 22.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
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 - Two buildings provide indoor parking along with lower-level laundry and storage areas.
Where is this quadplex located?
The property is located at S16w22081 Arcadian Ave Waukesha, WI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two two‑family buildings contain 4 residential units; 4,368 SF property built in 1930; All 4 units are currently rented
