Multifamily Property for Sale in Milwaukee, WI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Milwaukee, WI 53233

Description

Marcus & Millichap is pleased to present 834 N. 24th Street in Milwaukee’s Avenues West submarket. The property comprises a 0.21-acre parcel improved with a 12-unit apartment building. It was constructed in 1928 and contains 11,631 square feet (per assessor's records). It has a brick exterior and flat roof. The apartment building consists of six 1-bedroom/1-bath units and six 2-bedroom/1-bath units. The building features on-site laundry, a newly-installed security camera system, and 5 car detached garage. The boiler and water heater were replaced in 2014 and 2026 (per seller). Current ownership acquired the property in 2024 and has begun executing a value-add renovation strategy, with multiple units already updated. Rents are scheduled to increase to $1,000 (1-bedroom units) and $1,100 (2-bedroom units) in June 2026, supporting strong in-place income with continued upside through further unit renovations. Investment Highlights: • Scheduled Rent Increases to $1,000 (1-BR Units) and $1,100 (2-BR Units) in June • Boiler and Water Heater Replaced in 2014 and 2026, Respectively • Ongoing Value-Add Renovation Strategy with Multiple Units Already Updated • Additional Income Potential Through On-Site Laundry and 5 Car Garage • Prime Avenues West Location Near Marquette University and Downtown Milwaukee

Market Context

This multifamily in Milwaukee, WI is listed for sale. It is offered at an approximate 8.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Milwaukee, WI — <a href="/search/sale/multifamily/wisconsin/milwaukee">view the full market</a>.

As of Q1 2026, the Milwaukee multifamily market showed a 16.2% vacancy rate. Source: Cushman & Wakefield Q1 2026 market report.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Multifamily market FAQ

Is the Milwaukee multifamily market tightening or softening?
Vacancy is around 16.2% (Q1 2026).

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