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Multifamily

Maryland Court Apartments

2029 W Wisconsin Ave, Milwaukee, WI 53233

Listing Price: $3,800,000

Cap Rate
9.14%
Number of Units
39
Occupancy
88.0%
Price/Unit
$97,436
Price/Gross SF
$81.29
Gross SF
46,746

Investment Overview

Marcus & Millichap is pleased to present The Maryland Court Apartments in the City of Milwaukee. This apartment complex comprises two buildings which are blocks from the Marquette University Campus. Their addresses are 2029 West Wisconsin Avenue and 2041 West Wisconsin Avenue. The complex contains a combined 0.65 acre parcel improved with a 39-unit apartment complex. The buildings were constructed in 1911 and contain a combined 46,746 square feet (per assessor's records). Each building has a brick exterior and flat roof with rubber membrane covering (approximately 10 years ago per owner). The windows (including trim) and the boilers were also replaced about 10 years ago (per owner). The apartment complex contains (11) 2-bedroom/1-bath units and (28) 3-bedroom/1-bath units. A refrigerator and stove are provided (dishwashers in remodeled units). The units are heated with gas-fired central boilers (via radiators). One building has basement laundry with 4 coin-operated washing machines and 4 coin-operated dryers. The owner is responsible for common area electric, common area gas (heat), water and sewer. Each tenant pays for their own electric and cooking gas. There is a 14 car detached garage. Marquette University is located near the heart of downtown Milwaukee. The University offers a comprehensive range of majors in 11 nationally and internationally recognized colleges and schools. Marquette University's 11 colleges and schools deliver nationally recognized programs for undergraduates, graduate and professional students, and working professionals. For prospective undergraduate students, Marquette offers 83 majors and 80 minors, as well as preprofessional programs in dentistry, law and medicine. For postgraduate students, Marquette offers 66 doctoral and master's degree programs, 18 graduate certificate programs, and a School of Dentistry and Law School.

Investment Highlights

  • Blocks from Marquette University Campus
  • Brick Exteriors
  • Newer Rubber Membrane Roof Coverings, Windows, and Heating Systems
  • Well Maintained Buildings

Exclusively Listed By

Financing By

Multifamily

Maryland Court Apartments

Listing Price: $3,800,000

Cap Rate
9.14%
Number of Units
39
Occupancy
88.0%
Price/Unit
$97,436
Price/Gross SF
$81.29
Gross SF
46,746

Investment Highlights

  • Blocks from Marquette University Campus
  • Brick Exteriors
  • Newer Rubber Membrane Roof Coverings, Windows, and Heating Systems
  • Well Maintained Buildings

Investment Overview

Marcus & Millichap is pleased to present The Maryland Court Apartments in the City of Milwaukee. This apartment complex comprises two buildings which are blocks from the Marquette University Campus. Their addresses are 2029 West Wisconsin Avenue and 2041 West Wisconsin Avenue. The complex contains a combined 0.65 acre parcel improved with a 39-unit apartment complex. The buildings were constructed in 1911 and contain a combined 46,746 square feet (per assessor's records). Each building has a brick exterior and flat roof with rubber membrane covering (approximately 10 years ago per owner). The windows (including trim) and the boilers were also replaced about 10 years ago (per owner). The apartment complex contains (11) 2-bedroom/1-bath units and (28) 3-bedroom/1-bath units. A refrigerator and stove are provided (dishwashers in remodeled units). The units are heated with gas-fired central boilers (via radiators). One building has basement laundry with 4 coin-operated washing machines and 4 coin-operated dryers. The owner is responsible for common area electric, common area gas (heat), water and sewer. Each tenant pays for their own electric and cooking gas. There is a 14 car detached garage. Marquette University is located near the heart of downtown Milwaukee. The University offers a comprehensive range of majors in 11 nationally and internationally recognized colleges and schools. Marquette University's 11 colleges and schools deliver nationally recognized programs for undergraduates, graduate and professional students, and working professionals. For prospective undergraduate students, Marquette offers 83 majors and 80 minors, as well as preprofessional programs in dentistry, law and medicine. For postgraduate students, Marquette offers 66 doctoral and master's degree programs, 18 graduate certificate programs, and a School of Dentistry and Law School.

Exclusively Listed By

Financing By

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