1502 E Royall Place Milwaukee, WI 53202
Lower East Side NeighborhoodEstimated payment $5,223/month
About This Home
19-unit Rooming house that has potential to produce over $10k per month in gross income. Fantastic Eastside location close to Brady Street and public transit. Most rooms have their own private kitchen. 3 Garage parking Spaces, 3 outdoor parking spaces. The property has been run as a licensed rooming house since the 1960s. Currently, still being run as a rooming house. Management has retired and ownership is looking to sell. City has property assessed at $1,186,700. Create equity right away!
Property Details
Home Type
- Multi-Family
Lot Details
- 7,841 Sq Ft Lot
Home Design
- Brick Exterior Construction
Interior Spaces
- 5,894 Sq Ft Home
- Basement Fills Entire Space Under The House
Community Details
- Operating Expense $35,607
- Net Operating Income $101,193
Listing and Financial Details
- Exclusions: Tenants and Owners personal property.
- Assessor Parcel Number 3550298000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $16,252 | $699,400 | $38,800 | $660,600 |
| 2023 | $14,251 | $603,100 | $38,800 | $564,300 |
| 2022 | $15,121 | $603,100 | $38,800 | $564,300 |
| 2021 | $14,915 | $546,100 | $38,800 | $507,300 |
| 2020 | $14,317 | $546,100 | $38,800 | $507,300 |
| 2019 | $14,962 | $474,000 | $41,000 | $433,000 |
| 2018 | $12,264 | $474,000 | $41,000 | $433,000 |
| 2017 | $11,297 | $414,000 | $41,000 | $373,000 |
| 2016 | $10,783 | $376,000 | $41,000 | $335,000 |
| 2015 | -- | $376,000 | $41,000 | $335,000 |
| 2014 | -- | $358,000 | $41,000 | $317,000 |
| 2013 | -- | $358,000 | $41,000 | $317,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/03/2025 12/03/25 | Price Changed | $740,000 | -4.5% | $126 / Sq Ft |
| 09/11/2025 09/11/25 | For Sale | $775,000 | -- | $131 / Sq Ft |
Source: Metro MLS
MLS Number: 1934859
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