Investment Overview

Marcus & Millichap is pleased to present 412 E. Henry Clay Street, a well-maintained 12-unit apartment building located in the highly coveted Village of Whitefish Bay. The property comprises a 0.33-acre parcel improved with a classic apartment building. It was constructed in 1950 and contains 9,480 square feet. The building has a brick exterior and pitched roof with dimensional shingle covering (replaced in 2013). The windows are vinyl-clad, double hung combination units (replaced in 2004). The electric service (Square D) was updated in 2025 for $38,500. The property offers an investor a rare opportunity to own multifamily product in one of the most affluent, stable, and supply-constrained rental markets in all of southeastern Wisconsin. The property offers an attractive and proven unit mix of one-bedroom and two-bedroom units; an ideal configuration for capturing Whitefish Bay's deep pool of professionals, young families, and long-term renters drawn to the village's exceptional schools and enviable quality of life. A refrigerator and stove are provided in each unit, while tenants supply their own window air conditioner. The gas-fired boiler and gas water heater were replaced in 2000 and 2017, respectively. There is a basement laundry room with two washers and two dryers (all owned). Notable property features include the following: Timeless, low-maintenance construction consistent with the enduring residential character of the Whitefish Bay community On-site parking with 18 spaces; a valuable and practical amenity in a dense, walkable community where off-street parking is at a premium Utilities are structured as follows: each tenant pays for their own electric, while the owner covers common area electric, gas (heat and hot water) and water/sewer — a straightforward, tenant-friendly arrangement that supports the strong occupancy and long-term retention that define this market.