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32206017
32205129

846-856 North 15th Street, Milwaukee, WI 53233

Marcus & Millichap - Milwaukee
Listed by Marcus & Millichap - Milwaukee
$2,500,000
72 days on market
Updated 72 days ago

Union Street Apartments

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 20,000
Cap Rate 5.77%
NOI $144,286
Pro-Forma Cap Rate 6.20%
Pro-Forma NOI $155,076
Price per SqFt $125
Year Built 1921
Buildings 1
Stories 4
Acreage 0.140

$2,500,000 | 32 Units

Marketing description

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.

Investment highlights

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

Listing Contacts

Marcus & Millichap - Milwaukee
Listed by Marcus & Millichap - Milwaukee

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$144,286.00
$12,023.83/mo

Valuation Metrics

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DSCR
5.77%
Cap Rate
5.77%
ROI

Map

Zoning

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RM5 ResidentialMulti FamilyMultifamily Residential Districts
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Last updated Apr 10, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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