524 N Water St Milwaukee, WI 53202
East Town NeighborhoodEstimated payment $11,621/month
About This Home
Well-maintained, fully occupied mixed-use property located in the heart of Downtown Milwaukee. Comprised of approximately 8,800 square feet, the building features three retail units and three upper-level multifamily apartments, offering a balanced and diversified income stream across both residential and commercial tenancy. Currently fully leased, this building offers investors in-place cash flow with value-add potential through rental upside on the residential units, which are currently leased below market rates. The retail units are leased to a diverse mix of tenants, minimizing risk and ensuring long-term income stability. The building's flexible layout, strong physical condition, and premier location make it a turnkey investment with both immediate yield and long-term appreciation.
Listing Agent
Inland Real Estate Partners, LLC Brokerage Phone: 414-276-9500 License #48337-90 Listed on: 09/30/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $21,740
Lot Details
- 2,614 Sq Ft Lot
Home Design
- Brick Exterior Construction
Community Details
- Net Operating Income $154,180
Listing and Financial Details
- Assessor Parcel Number 3920661000
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 | $21,740 | $735,500 | $144,000 | $591,500 |
| 2023 | $14,632 | $619,200 | $144,000 | $475,200 |
| 2022 | $15,069 | $619,200 | $144,000 | $475,200 |
| 2021 | $15,073 | $564,000 | $144,000 | $420,000 |
| 2020 | $15,005 | $564,000 | $144,000 | $420,000 |
| 2019 | $17,275 | $600,000 | $144,000 | $456,000 |
| 2018 | $15,782 | $600,000 | $144,000 | $456,000 |
| 2017 | $14,701 | $530,000 | $144,000 | $386,000 |
| 2016 | $15,947 | $526,000 | $144,000 | $382,000 |
| 2015 | $12,401 | $399,000 | $48,000 | $351,000 |
| 2014 | $12,559 | $397,000 | $48,000 | $349,000 |
| 2013 | -- | $181,000 | $48,000 | $133,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/30/2025 09/30/25 | For Sale | $1,850,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | Frontier Title | |
| Quit Claim Deed | -- | Frontier Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Special Warranty Deed | $169,000 | None Available | |
| Sheriffs Deed | $225,000 | None Available | |
| Warranty Deed | -- | -- | |
| Warranty Deed | $215,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,125,000 | No Value Available | |
| Closed | $1,125,000 | New Conventional | |
| Previous Owner | $172,000 | Commercial |
Source: Metro MLS
MLS Number: 1937302
APN: 392-0661-000-3
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