846 N 15th St - Apartments FOR SALE


Milwaukee, WI 53233- Avenues West
$2,500,000 USD
262-364-1930
846 N 15th St, Milwaukee, WI for Sale
$2,500,000 USD
Apartments - FOR SALE
1/28
null | 5.77% Cap Rate

846 N 15th St
Milwaukee, WI 53233
Avenues West


HIGHLIGHTS

  • Excellent Marquette University Location with Year Leases
  • New Boiler
  • New Water Heater
  • 100% Occupancy

OVERVIEW

Marcus & Millichap is pleased to present Union Street Apartments located at 846-856 North 15th Street in Milwaukee, Wisconsin. The Property is an off-campus student housing community servicing Marquette University, and benefits from a highly desirable location within walking distance of campus, offering residents convenient access to academic buildings, dining, and student amenities. Union Street Apartments features a unit mix of two studio one-bathroom units and thirty one-bedroom, one-bathroom units. Studio apartments average approximately 350 square feet and at a rental rate of $655 per month, while one-bedroom apartment units range from approximately 600 to 700 square feet, with rental rates between $755 and $855 per month. Residents are responsible for electricity while the ownership covers heat, hot water, water and sewer services, and trash collection. The Property is heated using a boiler system which has been newly replaced along with the property’s water heater, and the roof is approximately 15 years old. Each unit is equipped with a refrigerator and stove, and onsite laundry facilities are available. The Property is pet-friendly, with additional monthly pet rent of $15 for cats and $25 for dogs.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$111 USD /SF

# OF UNITS

32

PRICE/UNIT

$78,125

CAP RATE

5.77%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Union Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,151 SF

ZONING

RM5

APN/PARCEL ID

390-0119-000-1

ASK ABOUT THIS PROPERTY

Matthew WhitesideMarcus & MillichapMore Info
262-364-1930

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

Matthew WhitesideMarcus & MillichapMore Info
262-364-1930

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