6100 Burnham StWest Allis, WI 53219

Property Details for 6100 Burnham St

Lot size

0.13 AC

Property type

Commercial real estate

APN

454-0579-000

APU

4540579000

Description

This exceptional 13-unit apartment building, located at 6100 W Burnham St in West Allis, Wisconsin, presents a compelling investment opportunity. Built in 1966, this two-story building boasts a total of 4,416 square feet situated on a 0.132-acre lot. The property commands an asking price of $1,225,000, translating to a price per unit of $94,231 and a price per square foot of $277.40. The building's strong financial performance is reflected in its impressive 6.72% cap rate and a net operating income (NOI) of $82,357. Extensive renovations completed within the past year have significantly enhanced the property's value and appeal. These upgrades include new sinks, cabinets, LED lighting, LVP flooring, windows, doors, toilets, bathroom vanities, and ceiling fans in all units. Bathrooms received professional resprays or new tub surrounds. New plumbing in the basement addresses previous drainage issues. First-floor units feature new PTAC units for individual temperature control, while second-floor units have infrared wall heaters and sleeve air conditioning units, offering tenants customized climate control. The property is ideally situated in a thriving West Allis neighborhood, known for its diverse community, vibrant business scene, and popular events attracting numerous visitors annually. The high rental demand in West Allis, with approximately 47% of residents renting, further underscores the investment potential of this property. This meticulously maintained building offers a blend of strong financial performance and significant upside potential for the discerning investor.

• CAP approach

  CAP return

  Valuation

  6%

  $1,167,660

  6.5%

  $1,077,840

  7%

  $1,000,850

• Comparable approach

  Method

  Valuation

  Relative Method

  $579,291

  Geo Method

  $743,206

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,189,800

  Retail / Commercial

  $1,109,650

  Mixed-Use / Specialty

  $1,095,240

  Hospitality / Lodging

  $789,926

  Office

  $1,077,840

  Institutional / Educational

  $1,134,870

  Residential Income

  $1,327,790

  Multifamily

  $1,650,450

  Automotive / Energy

  $972,742

  Parking / Income-Based Land

  $346,012

  Restaurant / Food Service

  $547,325

  Healthcare / Senior Housing

  $1,133,870

Location Insight

City

West Allis

County

Milwaukee

State

Wisconsin

Latitude

43.0104

Longitude

-87.989

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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