5433 N. National Ave, Milwaukee, WI 53214
Woods View Apartments and Best Western Plus
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Woods View Apartments and Best Western Plus Executive Summary
Berkadia is pleased to present the exclusive offering of Woods View Apartments and Best Western Plus Hotel, a rare opportunity to acquire a well-located and well-positioned asset to reposition and re-imagine it anew. Originally slated to be an apartment community totaling 185 units in the late 1960’s, the developer (still current owner) was approached by several companies to build some additional hotel rooms in the area. With that, they shifted to building a hotel and apartments on the site along National Avenue, in the desirable market of Milwaukee, Wisconsin. Built in 1965, the two-story, elevatored building offers 148 apartment homes and a 61-room full-service hotel (currently Best Western Plus), as well as a restaurant on the lower level with full kitchen. The apartments have been updated over the years but never in a programmatic campaign. The hotel underwent a major PIP in ______ with over $2 million in capital improvements including room upgrades and major mechanical systems. Many of the hotel rooms already have full kitchenettes making a conversion to apartments that much easier. The hotel, which is physically connected to the apartments, already features an attractive lobby, remodeled fitness center and even a large, indoor pool that could be utilized in the redevelopment. In addition, the apartments also have underground parking, another uncommon amenity for the area.
Only a few minutes from the I-94 and 43 interchange, the location offers excellent access to major highways, shopping, restaurants, and work centers including downtown Milwaukee. Located on National Avenue, the site is across the street from Zablocki Veteran Affairs Medical Center, one of the largest facilities in the country, as well as the US Department of Veterans Affairs Regional Office. The location is also only a distance from American Family Ballpark (home of the Brewers) and the Potawatomi Casino and Conference Center (both less than ½ mile way). While the ownership has done a good job of maintaining the asset, they have not undertaken any programmatic value-add scenarios. This is an exceptional opportunity for the new owner to convert the hotel into additional multifamily units, as well as adding value through unit upgrades and increasing cash flow through more effective asset management. There is also optionality with the property, which we will discuss.
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Amenities
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Us
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Investment Advisors
Mortgage Bankers:
Ralph DePasquale
Managing Director
312.845.8572
ralph.depasquale@berkadia.com BREA #471.011898
CHICAGO OFFICE
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Milwaukee Office
833 East Michigan Avenue, Suite 950 Milwaukee WI 53202
Chris Blechschmidt
Senior Managing Director
312.845.8592
chris.blechschmidt@berkadia.com
Emily Stang
Director
312.845.8568
emily.stang@berkadia.com
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Unique Opportunity to Reposition and Reimagine the Asset
Great Optionality for Workforce or Senior Multifamily
Untapped Value-Add Strategy | Numerous Revenue Enhancements Possible
Priced Well Below Replacement Costs
Elevatored building with underground parking
Strong Amenities including large indoor pool and fitness center
Multiply Phase Development creates the possibility to also create multiple assets.
Fifty+ Year Ownership creates the possibility for Bonds and/or tax credits for redevelopment.
INVESTMENT HIGHLIGHTS
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The Opportunity
Investment Highlights
LOCATION
Contact
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Unit Amenities
Eat-In Kitchen
Air Conditioning / Heating
Walk-In Closets
Microwave
Tub / Shower
Cable Ready
Disposal
Gas Range
Carpet, Tile, and Vinyl Floors
Window Coverings
Indoor Heated Swimming Pool
Fitness Center
24-Hour Laundry Facilities
Furnished Units Available
Underground Parking Available
Elevator
Pet Care
COMMUNITY / HOTEL AMENITIES
Jason Bond
Managing Director 312.845.8504 jason.bond@berkadia.com
Keith Millikan
Senior Director 312.845.8590 keith.millikan@berkadia.com
Dan Hawkins
Hotels & Hospitality Managing Director 240.204.5139 dan.hawkins@berkadia.com
148 Apartments and 61 Hotel Rooms
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Steve Skok
Managing Director 312.845.5164 steve.skok@berkadia.com