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26417005
26417004

2227 W Wells St, Milwaukee, WI 53233

DB
WI: 97683-94
Marcus & Millichap - Milwaukee
Listed by Marcus & Millichap - Milwaukee
$1,300,000
292 days on market
Updated 4 days ago

Marquette Multifamily Portfolio

Details
Property Type Multifamily
Sub Type Apartment Building, Student Housing
Units 8
Beds 23
Cap Rate 8.68%
NOI $112,799
Occupancy 100%
Pro-Forma Cap Rate 13.41%
Pro-Forma NOI $174,335
Class C
Year Built 1900
Year Renovated 2018
Buildings 4
Acreage 1.000
Investment Type Value Add
Ownership Fee Simple

Multifamily Portfolio | Huge Cash-on-Cash Return | 23 Bedrooms

Marketing description

Marcus & Millichap is pleased to present a portfolio of Student Housing properties located on campus at Marquette University. Comprised of Four Buildings, the Properties consists of Six Units totaling 22 Bedrooms within One City Block on W Wells Street. The Large Duplexes and Single Family Homes Offer Students 3, 4 and 5-Bedroom Options in the Heart of Campus. Tenants Pay for All Utilities. New Roofs on all Buildings in 2018 with 40 Year Luxury Shingle. Washer and Dryers Provided in Each Building.

2108-2110 W Wells - "The Yellow Duck"

Built in 1885 on 0.08 Acres Improved with a 3,635 Square Foot Duplex. The First Floor Unit Consists of 3 Bedrooms, 1 Bathroom and a Full Kitchen with Dishwasher. The Second Floor Unit Consists of 5 Bedrooms, 1 Bathroom and Full Kitchen. New High Efficiency Furnace, Newer Water Heaters, and Sleeve A/C Units Provided. Six Parking Spots in Rear Provide New Ownership Additional Sources of Income.

2217 W Wells - "The Alamo"

Built in 1880 on 0.03 Acres Improved with a 1,452 Square Foot Duplex. The Building Consists of 3 Bedrooms, 2 Bathrooms and a 2 Full Kitchens. Newer Siding, 2022 Furnace, 2015 Water Heater and Washer/Dryer.

2221 W Wells - "The Lodge"

Built in 1880 on 0.05 Acres Improved with a 1,734 Square Foot Single Family Residence. The Building Consists of 5 Bedrooms, 2 Bathrooms and 2 Full Kitchens. 2023 High Efficiency Furnace and Water Heater, Brand New Wiring and Copper Pipe Throughout.

2227-2229 W Wells - "The Maxwell House"

Built in 1910 on 0.06 Acres Improved with a 2,256 Square Foot Duplex. The First Floor Consists of 3 Bedrooms, 1 Bathroom and Full Kitchen. The Second Floor Consists of 4 Bedrooms, 1 Bathroom and Full Kitchen. 2019 Furnaces and Water Heaters.

Investment highlights

  • Under Market Rents with Clear Pathway to Stablization

  • Extensive Capital Improvments

  • Close to Marquette University Campus

Listing Contacts

DB
WI: 97683-94
Marcus & Millichap - Milwaukee
Listed by Marcus & Millichap - Milwaukee

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$112,799.00
$9,399.92/mo

Valuation Metrics

0
DSCR
8.68%
Cap Rate
8.68%
ROI

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