Milwaukee 8 units for $185,000 (Hampton Heights) 10+ Cap Rate

HavePropertiesCommercialMultiFamily - Small Apartment
Classifieds
11yFollow

Milwaukee 8 units for $185,000 (Hampton Heights) 10+ Cap Rate

Jonahvan RicoPro Member
Redondo Beach, CA · Member since 2013 · 25 posts · 2 votes

Purchase Price $180,000

Features

  • 8  1 Beds
  • 8  1Baths
  • Huge lot 1.25 Acres (room for added income with storage!)
  • Multi Family
  • Located in Milwaukee 53218 Zip Code Hampton Heights
  • Cap Rate 11+
  • NOI - 39,840

Contact me with questions

0Reply
5 views

5 Replies

Jump to latestLatest
  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    11y

    Rico a few questions

    Property on the mls ?

    Any pics ?

    Renovations need ?

    Do you have this property under contract ?

    Our you offering property with any seller financing ?

    Property occupancy ?

    Rent per month ?

    Property under management ? ( if so - monthly fee )

    Last 24 months vacancy level ?

    Tenant pay ? Monthly

    Owner pay ? Monthly

    Parking spaces or garage ?

    Flat roof ?

    Any current city code violations on this property ?

    Furnace age range ?

    Water heater age range ?

    Any nearby competition within 1/4 mile ? ( other apartment buildings )

    Any value add opportunity for this property ?

    Property near any commercial facility ?

    Tenants on lease or month to month ?

    Any section eight tenant for this property ? _ out of 8 units

    Property taxes monthly

    Current monthly insurance rates ?

    Any discount caretaker tenants ?

    0Reply
  • Jonahvan RicoPro Member
    OP
    Redondo Beach, CA · Member since 2013 · 25 posts · 2 votes
    11y

    Property on the mls ? Not on MLS

    Any pics ? Waiting on Pics

    Renovations need ?  None

    Do you have this property under contract ?  Yes

    Our you offering property with any seller financing ? Not at this time

    Property occupancy ?   7/8

    Rent per month ? 420

    Property under management ? ( if so - monthly fee ) No

    Last 24 months vacancy level ?  7/8

    Tenant pay ? Monthly

    Owner pay ? Monthly

    Parking spaces or garage ? Spaces

    Flat roof ? No

    Any current city code violations on this property ? No

    Furnace age range ? < 5 yrs

    Water heater age range ? < 5 yrs

    Any nearby competition within 1/4 mile ? ( other apartment buildings ) Yes

    Any value add opportunity for this property ?  Yes, large lot

    Property near any commercial facility ? 

    Tenants on lease or month to month ?  Month 2 month

    Any section eight tenant for this property ? _ out of 8 units .  none

    Property taxes monthly 4900

    Current monthly insurance rates ?  140

    Any discount caretaker tenants ? What do you mean?

    0Reply
  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    11y

    'Any discount caretaker tenants? What do you mean? "

    Tenant who receives discounted rent for taking care of property 

    grass and snow removal

    -> Example only

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    Units 1 : pay $204 per month rent (tenant reduce rent to handle grass & snow removal)

    Units 2 - 8 : pays $402 per month rent

    0Reply
  • Jonahvan RicoPro Member
    OP
    Redondo Beach, CA · Member since 2013 · 25 posts · 2 votes
    11y

    No tenant gets a rent credit for snow or lawn service.

    0Reply
  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    11y

    okay

    sent you a private note, fyi

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free