Multifamily Property for Sale in Milwaukee, WI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Milwaukee, WI 53202

Description

Marcus & Millichap is pleased to present Grand Riverside Apartments, a multi-family community consisting of 16 apartment homes and 2 commercial suites, located in Milwaukee’s Historic Third Ward. The Historic Third Ward is located along Milwaukee’s lakefront between East Town and Walker’s Point and is widely recognized as the city’s premier shopping, dining, and arts district. The neighborhood features a concentration of upscale retailers, art galleries, restaurants, professional services, and theaters. Its strong walkability and proximity to the Milwaukee Riverwalk have supported consistent residential demand. The district also hosts popular events such as Gallery Night and Day and is home to the Milwaukee Public Market, which offers a diverse collection of local restaurants, specialty food vendors, and retailers and attracts more than one million visitors annually. Grand Riverside Apartments contains approximately 21,160 GLA square feet of apartment homes and 5,589 square feet of commercial space, totaling 26,749 square feet. The residential unit mix includes four one-bedroom, one-bathroom units at 1,018 square feet and four one-bedroom, two-bathroom units at 1,081 square feet. Current rents for one-bedroom units range between $1,841 per month and $1,995 per month. Additionally, there are four two-bedroom, two-bathroom units at 1,557 square feet and four two-bedroom, two-bathroom plus den units at 1,643 square feet. Rental rates for two-bedroom units range between $2,525 per month and $2,734 per month. The property also features two ground-level commercial suites: 225 N Water St (2,753 square feet) and 229 N Water St (2,836 square feet), which generate $7,165 per month in commercial income. Residential tenants are responsible for heat, gas, and electric utilities. Water, sewer, and trash services are paid by ownership and billed back to tenants through a third-party RUBS system. Commercial tenants are responsible for their CAM Share (real estate taxes, special ass

Market Context

This multifamily in Milwaukee, WI is listed for sale. It is offered at an approximate 7.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 53 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).

Contact

Explore this market

Similar Multifamily Property for Sale in Milwaukee, WI