Locations for Milwaukee Multifamily properties can fall into 7 basic areas:

• East Side & Downtown Milwaukee
• Marquette
• Northwest side
• South side
• Southwest Side
• Suburban i.e., Oconomowoc, Franklin, Fox Point, WFB

East side and Downtown apartment buildings for sale are at the most sought after area in the city, because they rarely come to market due to the high demand. Downtown and the east side has many businesses, colleges and universities that bring students and young professionals to this part of the city. Vacancy rates are relatively low with rent at a premium. In this area properties tend to trade in a range of 7-9 % capitalization rates.

Marquette University’s campus also has many students in a relatively small area between Clyburn & Kilbourn and from 8th st to 20th. Housing in this area is at a premium; however a few blocks in almost any direction is outside the campus and prices drop off very fast. When investment properties come available near the campus they sell fast, usually in a range of 8-9%. Marquette Multifamily is highly sought after.

The Northwest side of Milwaukee is considered north of North Avenue and West of the expressway. This area has a lot of inventory and trades at much higher cap rates, from 9-15%. Average incomes of tenants are lower and management costs are higher, so the price per unit of apartment buildings on the Northwest side tend to be lower; $30-40k for average 2bed 1 bath unit.

The South Side of Milwaukee would include the near south side located from National Ave south to Oklahoma and Bay View. Neighborhoods and property values change quickly on the near south side as there are industrial neighborhoods throughout that area of the city. The Southwest side would be west of Chase and south of I-94. Throughout the south side the quality of buildings is high as they tend to get younger the more south west you go.

Suburban Metro- Milwaukee Multifamily for sale is relatively rare; mostly because there is not a lot of it. Urban sprawl brings with it a desire for less dense housing. Many municipalities are apprehensive about building or planning for new multifamily projects. There is high demand for Investment properties throughout Waukesha, Jefferson & Washington Counties. At any given time in these counties there are only a few to choose from. When these properties do come to the market, they tend to be bigger (over 16 units) and younger (less than 20 years old). Multifamily in the North Shore area rarely even make it to the market. The cap rates can go from as low as 6%-9% based on size and exact location. A lot of times they trade between local owners and well connected brokers (like myself).