Bought with Herbert C Langford Sr • Homestead Realty, Inc~Milw
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8940 W Mill Rd Milwaukee, WI 53225
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Key Details
Sold Price $750,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 1639209
Sold Date 10/28/19
Year Built 1966
Annual Tax Amount $17,683
Tax Year 2018
Lot Size 0.740 Acres
Acres 0.74
Property Description
CASH FLOW! Thirteen unit 3 bed/1.5 bath townhouse units. Average monthly rent/unit is $858 with room to go as high as $925, higher if upgraded finishes. All units have full basements. Property is professionally managed. Multifamily complexes of this scale and income typically list for cap rates in the low 6% range, this one is priced to move with a 7.9% cap rate. NOI at current rent structure is almost $68,000 with a 5% budget for professional management imbedded -- with room to grow. All units have full basements with laundry hook-ups and parking lot accommodates 13 vehicles.
Location
State WI
County Milwaukee
Zoning RM1
Rooms
Basement Full
Interior
Heating Natural Gas
Cooling Natural Gas
Flooring No
Exterior
Exterior Feature Aluminum, Brick
Parking Features Near Public Transit, Outdoor Space
Roof Type Composition
Building
Water Municipal Sewer, Municipal Water
Schools
School District Milwaukee
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