2820 W KILBOURN AVE Milwaukee, WI 53233

This exceptional investment opportunity presents a 36-unit multifamily property located at 2820 W Kilbourn Ave, Milwaukee, WI 53233. Priced at $1,900,000, this 23,535 square-foot brick building offers significant potential for value appreciation. Constructed in 1962, the property sits on a 0.54-acre lot and boasts a strong historical occupancy rate. The unit mix comprises thirty one-bedroom units (83.3% of the total) and six studio units (16.7%). Currently generating a net operating income (NOI) of $159,826, representing an 8.41% cap rate, projections indicate a substantial increase in NOI to $182,746. The current average rent per unit is $665, significantly below the market potential of $759, presenting a clear path to increased profitability through rental rate adjustments. This value-add opportunity allows for significant upside through improved revenue generation. The property's strong historical occupancy and favorable unit mix make it an attractive investment for experienced multifamily investors seeking immediate cash flow and long-term growth. This is a rare chance to acquire a well-located, established multifamily property in a growing Milwaukee market.