This exceptional 36-unit apartment building located at 2820 W Kilbourn Ave, Milwaukee, WI 53233, presents a compelling investment opportunity. Priced at $1,900,000, this 23,535 square-foot brick building, constructed in 1962, offers a strong current net operating income (NOI) of $159,826, translating to an 8.41% cap rate. The property's unit mix comprises 30 one-bedroom units (83.3%) and 6 studio units (16.7%). Currently, the average rent per unit stands at $665, significantly below the market potential of $759, indicating substantial upside for rental income. Projections show a potential NOI increase to $182,746, further enhancing the investment's attractiveness. This multifamily property in Milwaukee County offers a blend of stable income and significant growth potential, making it an ideal addition to any investment portfolio. The property's location in Milwaukee provides access to a thriving urban environment and a robust rental market. This is a rare opportunity to acquire a well-situated multifamily asset with immediate income and significant long-term appreciation potential. The building's solid construction and established tenancy base contribute to its overall stability and appeal. This is a turnkey investment ready for immediate returns and future growth.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$5,269,410
6.5%
$4,864,070
7%
$4,516,636
Comparable approach
Method
Valuation
Relative Method
$3,703,490
Geo Method
$4,751,422
Alternative Use
Use
Valuation
Residential
$4,864,070
Hospitality
$4,455,462
Educational
$3,706,892
Medical
$3,834,378
Retail
$5,766,276
Location Insight
City
Milwaukee
County
Milwaukee
State
Wisconsin
Latitude
43.042
Longitude
-87.9498
CBSA code
33340
CBSA name
MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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