Marcus & Millichap closed the sale of Kane Place Apartments, a 40-unit multifamily property in Milwaukee.
The property sold for $3,525,000, or $88,125 per unit.
Hanlon and Mark Peltin, investment specialists in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, local investors. Oaklander, LLC purchased the property.
Built in 1896, the 17,510-square-foot property is situated on a 0.21-acre parcel and is fully leased with a unit mix of 30 studios and 10 one-bedroom apartments. The property benefits from its location in Milwaukee’s Lower East Side, within walking distance of the lakefront, downtown, and a variety of restaurants and bars.
