All Forum Posts by: Sam Erickson

We have an all brick 6-unit property currently listed for sale on the border of Milwaukee and Wauwatosa and are looking for a buyer!

Property Highlights:

• 100% Occupied
• Passive Investment, 4 of 6 units remodeled in 2016, the other two have long term tenants
• Fridge & Stove come with each unit.
• 6 car garage (one for each unit), with new overhead doors.
• Tenants pay electric and sewer/water (landlord pays Gas)
• Rents currently average at $742/month.  As renewals occur, rent it being pushed to $800/month. 

Link to property listing below.

Property Listing

Please reach out with any questions.

Keywords: Wisconsin, Milwaukee, Chicago, Wauwatosa, Multi, Apartment

@Donald D Michna would love the chance to talk more on this.  Are you looking to buy or sell?  I work with many investors in the Multi-family arena and actually have a 6-unit listing going live next week.

I'll PM you.

@Account Closed , No MLS listing being that its off-market. I did get pictures though today so I'll send you those. Otherwise, the information above is what I have that I can share at this point.

First off I want to say that I do not own these properties. I'm a realtor looking for a buyer on this off-market deal in the Riverwest neighborhood near Milwaukee.

Property details:

- Asking Price: $225,000

- 4 units total, 1 storefront on the lower level and 3, 2-bed apartments above.  Additional rent can be generated from the 2 parking spaces, currently, only one being rented at $30/month.

-Monthly expenses (Average):

-We Energies: $110.73

-Water: $116.25

-Insurance: $211.16

-Property Taxes: $444.96

-Maintenance, snow, lawn: $150.00

*I'm looking to represent you as a buyer. The deal was passed to me by the agent with the pocket listing. Will sign a buyer agency agreement, so you know my fiduciary responsibility is to you and not the seller.

At Sellers asking price, looks like NOI around $30,000/year. Assuming $25% down, 5% interest, amortized over 30 years, CAP comes out to 13.45% with COC at 34.48% All numbers were given to me by the agent with the pocket listing.

If you're interested in pursuing further please let me know and I can provide pictures.

Hey @Account Closed would love to connect.  I do some investing myself and then also run The Erickson Team at the Milwaukee Keller Williams office.  I'll send you a PM!

@Account Closed as a whole does the portfolio have equity?  It's common to see properties being sold in packages.  You could try listing the whole 30 as one. You may also what to try to break it down into small portfolios that all contain a mix of highly leveraged and lower leveraged properties with the goal of creating the right mix to get the portfolio sold.  

I rep a number of buyers currently looking in Milwaukee, I'll send you a PM perhaps I can help get at least some of them sold.

Sam