319-323 W Bolivar St - Apartments FOR SALE


Milwaukee, WI 53207- Town of Lake
$1,575,000 USD
414-254-0245
319-323 W Bolivar St, Milwaukee, WI for Sale
$1,575,000 USD
Apartments - FOR SALE
1/18
null | 5.46% Cap Rate

319-323 W Bolivar St
Milwaukee, WI 53207
Town of Lake


OVERVIEW

Beautiful brick/stone building located in the heart of a quiet single family subdivision. Two new boilers, newer water heaters, roof redone in 2009, 12 large 2 bdrm units 2 3 bdrm 1.5 bath units. Seller retiring , under no duress just wants the new owner to take as good care with the building and tenants as they have over the years. Located minutes from airport, downtown, shopping, stores, schools and restaurants. On the bus line , off-street parking. Tenants pay electric owner pays heat. Coin-op washer/dryer in basement with storage lockers for tenants. Units are under rented by an average of $150 per month. Current rents on 3 bdrm units is $200-300 below market rents. Investment return with principle reduction and average appreciation stated by city records is approx 23%. With rents stabilized at market rates this adds another $25,200 per cash flow annually. Qualified investors only, proof of funds or bank letter required with any offers. PLEASE DO NOT DISTURB TENANTS. Call lister for showings and information. This highly sought after building won't last long, bring your A game to get it done.

FOR SALE DETAILS

PRICE

$1,575,000 USD

PRICE/SF

$114 USD /SF

# OF UNITS

14

PRICE/UNIT

$112,500

CAP RATE

5.46%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

RM1

APN/PARCEL ID

595-9954-100-9

ASK ABOUT THIS PROPERTY

Timothy JewellBerkshire Hathaway Home ServicesMore Info
414-254-0245

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Timothy JewellBerkshire Hathaway Home ServicesMore Info
414-254-0245

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.