Turn Key 18-Unit Milwaukee Apartment

[Alex Anderson]

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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