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1855 N Cambridge Ave
Milwaukee, WI 53202
The Cambridge Place · Multifamily Property For Sale
·
30 Units
Investment Highlights
- Assumable 4.17 Percent Mortgage with Maturity in December 2031
- Heart of Downtown Milwaukee two blocks away from Lake Michigan
- Extensively Renovated and Fully Occupied 30-Unit Multifamily Asset Near Downtown Milwaukee and Lake Michigan
Executive Summary
Cambridge Apartments is a 30-unit complex with 18 covered parking spaces. Property has a loan assumption of 4.17% until December of 2031! Property was completely renovated in 2005, and significant capital improvements have been made over the last 6 years. Those include all new lobby, laundry room, renovated hallways, new elevator motor, tuck pointing, and new retaining wall on garage. Property consists of 30 1-bedroom units that are roughly 600 SF. Property sits just a few blocks from lake Michigan in a institutional quality location.
Property Facts
| Price Per Unit | $158,526 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.75% | Building Size | 18,000 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 30 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2005 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | RM6 | ||
| Price Per Unit | $158,526 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| Sale Condition | 1031 Exchange |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 18,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1963/2005 |
| Parking Ratio | 1/1,000 SF |
| Zoning | RM6 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Tenant Controlled HVAC
- Elevator
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | $1,215 | 600 |
Property Taxes
| Parcel Number | 355-0037-110-0 | Improvements Assessment | $3,586,900 |
| Land Assessment | $242,500 | Total Assessment | $3,829,400 |
Property Taxes
Parcel Number
355-0037-110-0
Land Assessment
$242,500
Improvements Assessment
$3,586,900
Total Assessment
$3,829,400
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