Turn Key 18-Unit Milwaukee Apartment
Seems like everyone is looking to invest in Milwaukee. Demand is high, and cost of entry is better than the coasts. Coming to market is an 18-unit turn key apartment building with several upgrades including brand new windows on the whole building. Upgraded exterior doors, concrete walk way, LED lighting, tuck-pointing has been completed. Roof is newer within the last 7 years. Upgraded control unit for the boiler. Parking in rear for 6. Opportunity to add coin laundry in basement for additional income.
Expenses are estimated below:
Gross Rents: $86,400 (18 units, avg $400/mo rent)
Expenses:
Gas/Electric: $12,000
Property Tax: $13,000
Water: $5,000
Trash: $1,500
Insurance: $2,000
Vacancy: $9,000
Water heater lease: $1,500
Misc: $8,000
Total expense: $52,000
Adjusted Net: $34,400
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