Concordia Palmtree Apartments

63 Unit Apartment Building | $3,790,000 ($60,159/Unit) | 8.41% Cap Rate | Milwaukee, WI 53208

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $3,790,000

Property Type
Multifamily
Square Feet
41,706 SF

Listing Contacts

Graig Goldman
Graig Goldman
Verified Profile
Alex Segal
Alex Segal
Verified Profile
  • Property Info

Property Overview

TWO BRICK BUILDINGS, total 63 Units in Downtown Milwaukee's Avenues West Neighborhood near Marquette University. 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. FULLY OCCUPIED, and with a Resident Manager. This is a solid value-add opportunity because many rents are below market. Features 34 underground parking spaces that are under-utilized. Seller estimates 7.7 CAP today, but 9.6 CAP if owner keeps leasing new tenants at tested, successful higher market rent. 2 BUILDINGS: 2848 W Wisconsin, and 730 N 29th ST.
Showings by appointment only thru Lister 414-788-0449.

Property Details

Class
C
Year Built
1962
Stories
3
Lot Size (sq. ft)
21,780 SF
Units
63

Highlights

  • Downtown Milwaukee location with several bus lines one block away.

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