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Listed by RE/MAX Service First
$3,790,000
Est. payment /mo
0.5 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 1887663
Year Built 1962
Annual Tax Amount $33,663
Tax Year 2023
Lot Size 0.500 Acres
Acres 0.5
Lot Dimensions 81'x149' and 79'x125'
Property Description
UNDER CONTRACT. TWO OCCUPIED BRICK BUILDINGS on 2 tax keys (388200800+3882005100). Secondary Offers Considered! Total of 63 Units in Downtown Milwaukee's Avenues West Neighborhood (Opportunity Zone #13500). Consists of 2 three-story buildings at the corner of 29th & Wisconsin. 60 of the units are one-bedroom, and 3 units are two-bedroom. This is a solid value-add opportunity because many rents are below market. Features 34 underground parking spaces that are under-utilized. Seller estimates 8.5 CAP today, but 10.5 CAP if owner keeps leasing new tenants at tested, successful higher market rent.
Location
State WI
County Milwaukee
Zoning RM7 & RM6
Rooms
Basement Laundry Facilities
Interior
Heating Hot Water/Steam, Natural Gas
Cooling Hot Water/Steam, Natural Gas
Flooring No
Exterior
Exterior Feature Brick
Parking Features Near Public Transit, Underground Garage
Building
Dwelling Type Apartment Building
Water Municipal Sewer, Municipal Water
Schools
School District Milwaukee
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