312-845-8572
5511 W National Ave, Milwaukee, WI for Sale
Apartments - FOR SALE
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5511 W National Ave
Milwaukee, WI 53214


HIGHLIGHTS

  • Outstanding Optionality: Hotel-to-MF conversion potential (adds 30–40 units), whether market-rate, affordable or senior!
  • Untapped upside: Opportunity for programmatic renovations; +$127/unit rent lift projected
  • Great Location: Across from VA Medical Center, near major employers, downtown and American Family Stadium.

OVERVIEW

Built in 1965, the three-story, elevatored building offers 148 apartment homes and a 62-room full-service hotel (currently Best Western Plus Milwaukee West), as well as a highly rated pizza pub and grill on the lower level with full commercial kitchen. The apartment homes have been updated over the years but never in a programmatic campaign. The hotel underwent a major PIP with over $2 million in capital improvements including room upgrades and major mechanical systems. Many of the hotel rooms already have kitchenettes (or are stubbed for gas) making a conversion to residential that much easier. The hotel, which is physically connected to the apartment homes, already features an attractive lobby, remodeled fitness center and even a large, indoor pool with whirlpool that could be utilized in the redevelopment. In addition, the apartments also have heated underground parking, another uncommon amenity for the area.

FOR SALE DETAILS

PRICE

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# OF UNITS

148

CAP RATE

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% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Woodsview Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1966

PARKING SPACES

28

LAND DETAILS

LAND ACRES

2.74 AC

LAND SF

119,354 SF

ZONING

-

APN/PARCEL ID

436-1072-001

ASK ABOUT THIS PROPERTY

Ralph DePasqualeBerkadiaMore Info
312-845-8572

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Ralph DePasqualeBerkadiaMore Info
312-845-8572

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