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944 N 20th St 26 Unit Apartment Building $2,080,000 ($80,000/Unit) 6.59% Cap Rate Milwaukee, WI 53233
EXECUTIVE SUMMARY
26 units, very nicely updated, completely occupied in the BLUE LIGHT DISTRICT of Marquette University. 2 adjacent buildings professionally managed and maintained. 944 is 18 studios fully remodeled to a high finish-level including new windows & individual heating/cooling units and on-site coin laundry. 950 is 8 units, 4 1-beds and and 4 studios, units are generously-sized. Each unit has been substantially-updated and the building is serviced by a central boiler system. Great candidate for Grad-Student housing. Rents are a bit low and the fix is simple - As with most Milwaukee submarkets, leases expire in spring/summer months, however MU prime leasing activity occurs in September. Both properties must be purchased as a package. Parking is limited. Contact Dan Mickelsen with questions at 808-457-8433 (cell)
PROPERTY FACTS
| Price | $2,080,000 | Building Class | C |
| Price Per Unit | $80,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 10,882 SF |
| Cap Rate | 6.59% | Average Occupancy | 100% |
| No. Units | 26 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 0.18/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM6 | ||
| Price | $2,080,000 |
| Price Per Unit | $80,000 |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 10,882 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 0.18/1,000 SF |
| Zoning | RM6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 22 | $720.00 | - |
| 1+1 | 4 | $795.00 | - |
1 1
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 363-2617-000-8 | Improvements Assessment | $678,800 |
| Land Assessment | $29,100 | Total Assessment | $707,900 |
PROPERTY TAXES
Parcel Number
363-2617-000-8
Land Assessment
$29,100
Improvements Assessment
$678,800
Total Assessment
$707,900
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944 N 20th St
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