Investment Overview

Marcus and Millichap is pleased to present Kane Place Apartments at 1503-1515 E. Kane Place in the city of Milwaukee. The property comprises a 0.21-acre parcel improved with a 40-unit apartment building. It was constructed in 1896 and contains 17,510 square feet (per assessor's records). The building has a brick exterior, flat roof with rubber membrane covering (per owner), and double hung combination windows. There is a basement laundry room which houses leased washers and leased dr yers. The fully leased apartment building comprises (30) thirty studio/efficiency units and (10) ten 1-bedroom units. The studio/efficiency units have a variety of layouts. A refrigerator and stove are provided to each unit. Most units feature hardwood flooring. The rubber membrane roof covering was replaced three years ago (per owner). The boiler was replaced 10 years ago (per owner). One water heater was replaced four to five years ago. The electric service has been updated. Approximately half of the windows have been replaced with vinyl-clad, double hung, combination units. Each tenant pays for their own electric and reimburses for water/sewer and trash removal. The owner is responsible for common area electric and gas (heat and hot water). There is street parking available.