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Oakland Avenue Apartments 3575 N Oakland Ave 44 Unit Apartment Building $6,750,000 ($153,409/Unit) 6.79% Cap Rate Shorewood, WI 53211
EXECUTIVE SUMMARY
Built in in 1962 and renovated in 2009 & 2019,
The Sheridan is a five story, 44 unit apartment building featuring retail spaces on the ground floor.
The residential component includes 43 two-bedroom units and one one-bedroom unit. Of the two-bedroom units, 20 have one bath, 19 have one-and-a-half baths, and four have two baths.
The ground-floor retail spans 7,344 SF is leased to: McCade Insurance Agency, Exercise Coach and
Beu Face & Body Lounge.
The building has one elevator that serves all five levels and the lower level, which includes laundry, storage lockers, and parking access. The property offers
57 off-street parking spaces.
Just south of Oakland Ave & Capitol Dr. with close proximity to UW Milwaukee Campus. Walking distance to restaurants, shops, entertainment, and more. Only minutes from the I-43 interchange.
The Sheridan is a five story, 44 unit apartment building featuring retail spaces on the ground floor.
The residential component includes 43 two-bedroom units and one one-bedroom unit. Of the two-bedroom units, 20 have one bath, 19 have one-and-a-half baths, and four have two baths.
The ground-floor retail spans 7,344 SF is leased to: McCade Insurance Agency, Exercise Coach and
Beu Face & Body Lounge.
The building has one elevator that serves all five levels and the lower level, which includes laundry, storage lockers, and parking access. The property offers
57 off-street parking spaces.
Just south of Oakland Ave & Capitol Dr. with close proximity to UW Milwaukee Campus. Walking distance to restaurants, shops, entertainment, and more. Only minutes from the I-43 interchange.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$800,766
|
$15.41
|
| Other Income |
$6,000
|
$0.12
|
| Vacancy Loss |
$40,338
|
$0.78
|
| Effective Gross Income |
$766,428
|
$14.75
|
| Taxes |
$112,337
|
$2.16
|
| Operating Expenses |
$195,313
|
$3.76
|
| Total Expenses |
$307,650
|
$5.92
|
| Net Operating Income |
$458,778
|
$8.83
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $800,766 |
| Annual Per SF | $15.41 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.12 |
| Vacancy Loss | |
|---|---|
| Annual | $40,338 |
| Annual Per SF | $0.78 |
| Effective Gross Income | |
|---|---|
| Annual | $766,428 |
| Annual Per SF | $14.75 |
| Taxes | |
|---|---|
| Annual | $112,337 |
| Annual Per SF | $2.16 |
| Operating Expenses | |
|---|---|
| Annual | $195,313 |
| Annual Per SF | $3.76 |
| Total Expenses | |
|---|---|
| Annual | $307,650 |
| Annual Per SF | $5.92 |
| Net Operating Income | |
|---|---|
| Annual | $458,778 |
| Annual Per SF | $8.83 |
PROPERTY FACTS
| Price | $6,750,000 | Building Class | B |
| Price Per Unit | $153,409 | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 51,967 SF |
| Cap Rate | 6.79% | Average Occupancy | 93% |
| No. Units | 44 | No. Stories | 5 |
| Property Type | Multifamily | Year Built/Renovated | 1962/2019 |
| Property Subtype | Apartment | Parking Ratio | 1.1/1,000 SF |
| Apartment Style | Mid-Rise | Cross Streets | E Menlo Bl |
| Zoning | B-1 Commercial | ||
| Price | $6,750,000 |
| Price Per Unit | $153,409 |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.44 AC |
| Building Size | 51,967 SF |
| Average Occupancy | 93% |
| No. Stories | 5 |
| Year Built/Renovated | 1962/2019 |
| Parking Ratio | 1.1/1,000 SF |
| Cross Streets | E Menlo Bl |
| Zoning | B-1 Commercial |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Dishwasher
- Disposal
- Storage Space
- Heating
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Carpet
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- On-Site Retail
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 1,000 |
| 2+1 | 20 | - | 1,000 |
| 2+1.5 | 18 | - | - |
| 2+2 | 4 | - | - |
| 2+2.5 | 1 | - | - |
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 275-1181-000 | Total Assessment | $3,873,200 (2024) |
| Land Assessment | $666,700 (2024) | Annual Taxes | $112,337 ($2.16/SF) |
| Improvements Assessment | $3,206,500 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
275-1181-000
Land Assessment
$666,700 (2024)
Improvements Assessment
$3,206,500 (2024)
Total Assessment
$3,873,200 (2024)
Annual Taxes
$112,337 ($2.16/SF)
Tax Year
2025
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Oakland Avenue Apartments | 3575 N Oakland Ave
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