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1501 S 3rd St, Milwaukee, WI 53204

Single Family / 0 Bedroom(s)

Property Status:  Not Available | $150,000.00 | 

Property Photos
1501 S 3rd St (Image - 1)

BUILD YOUR DREAM! THIS Former bar is vacant and gutted! BEST ARV is Single Family at $425K!

Property Status:
Not Available | $150,000.00
Property Details:
Single Family / 0 BR
Property Style:
Year Built:
Unfinished Basement
Owner / Agent:
Individual Owner
Property Features:
No Property Features Listed.
Contact Info
Powers Realty
(414) 412-8701

View on Individual's Website
Property Description:
1501 and 1505 S 3rd St. Milwaukee, WI 53204


1501 S 3rd St. Vacant, gutted former bar. Comes with plans ready to go to the city for permits to construct into a 3BR/3BA single family home.

1505 S 3rd St. Milwaukee, WI 53204 Updated Duplex 6BR/2BA

We have 2 buildings owned in partnership in Milwaukee, WI, in an opportunity zone. 

We are looking to sell these ASAP and off market, so if you have an agent, BUYER pays the agent commission. If you do not have an agent, I can write the offer and handle the contract for you and save you that commission. 

1501 S 3rd St. Milwaukee, 53204 is a now vacant bar that had a living quarters above it. It is vacant and gutted. It has 3 new foundation walls. No electric, HVAC, plumbing, or doors. I have plans ready to go to the city for permits to build this into a single family loft style home. We envisioned a home that would be used for AirBNB. The ARV is $425K, stronger than building it as a duplex. This is in the Historic Walker's Point area of Milwaukee. 2 blocks off the freeway, close to hospitals, downtown and the lakefront. This area is quietly up and coming and home values are climbing steadily as the neighborhood is gentrified. I have visual renderings of what the space would look like with these plans.  $150,000 asking for the vacant bar. 


The neighboring building, 1505 S 3rd St. Milwaukee, WI 53204 is an updated Duplex. The inside is completely updated and gorgeous! Lower has basic furnishings, and in unit laundry and is rented at $1500/month (M2M). Landlord pays for internet service, trash and water. Tenant pays heat/electric. Tenant supplies their own linens and towels in this unit and it is furnished but not decorated.

The upper is furnished, and finished to a higher degree and on Airbnb, VRBO, Furnished Finders and has bookings through 2023, but is not at capacity. 
We pay for heat, electric and internet in this unit. 
Selling the building can cancel these reservations or they can be transferred to the new building owner. 
This only went live on these sites in February, so we do not have financials from operations yet. projects a 3BR in 53204 can earn $44,000 annually.
Furnace in basement heats lower unit. This was tuned up in December. 
There is a separate furnace in the attic that heats the upper unit. 
No idea on age of roof or hot water tanks or appliances.
Microwave in upper is new, never used. 
Electric panels are updated.
Significant improvement inside the duplex. Newly refinished hardwood floors, and new LVP flooring in upper, reglazed tub and surround, all new paint and decor and furnishings. New exterior doors and locks. Upper has never been lived in or rented. 
No parking behind the duplex, only off street parking, which is easy to find. 
Parking behind the bar is now part of the separate bar parcel. 
There will be an easement for duplex tenants/owner to take trash cans across parking behind bar to Orchard for collection. 

Improved Duplex with M2M tenant $250,000 

Vacant/Gutted bar w/plans $150,000

Buy them both for $375,000.

Seeking a fast close in March.

Verified that these are both in an opportunity zone. Here is our local link:

Please let me know if you have interest. 


Tiffany Drahonovsky, licensed Realtor

Exp Realty


Legal Disclaimer:
Milwaukee Real Estate Investors Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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