For Sale
$3,600,000

2301 Michigan StMilwaukee, WI 53233

65 Units, 8% Cap Rate, High Demand

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional multifamily investment opportunity encompasses a three-lot assemblage in Milwaukee's Near West Side, a highly desirable neighborhood. The property consists of 65 units spread across three buildings: two 30-unit buildings featuring one-bedroom apartments, and a charming five-unit vintage home. Located a convenient seven-minute walk from Marquette University's campus, this property benefits from strong rental demand fueled by the university's large student population. The total square footage is 45,346, with an asking price of $3,600,000, resulting in a price per square foot of $79.39. The current cap rate stands at a solid 8.00%, with a pro-forma cap rate projected at 9.06%, indicating significant potential for increased profitability. The property also includes approximately 24 parking spaces situated between two of the buildings, a valuable amenity in this location. The addresses included in this offering are 2301 W Michigan St (5 units), 2319 W Michigan St (30 units), and 2327 W Michigan St (30 units), all located in Milwaukee, Wisconsin, zip code 53233. Built in 1926, this property presents a unique blend of history and potential, offering a compelling investment opportunity for discerning buyers seeking strong returns in a thriving urban market. The property's proximity to Marquette University ensures consistent occupancy and a stable income stream.

Highlights

  • 65-unit multifamily investment opportunity in Milwaukee's Near West Side.
  • 8.00% current cap rate, projected to increase to 9.06%.
  • $79.39 per square foot.
  • Seven-minute walk to Marquette University.
  • Approximately 24 parking spaces.

Property Details for 2301 Michigan St

Property type
Apartment buildings
Square Feet
45,346 SF
Year Built
1926
Units
65

Location Insight

City
Milwaukee
County
Milwaukee
State
Wisconsin
Latitude
43.0372536
Longitude
-87.9417576
2301 Michigan St, Milwaukee, Wisconsin

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2301 Michigan St
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