NOT LISTED FOR SALE

1220 Prospect Commons Madison, WI 53718

Westside Neighborhood

Estimated Value: $2,505,231

Studio
16 Baths
9,320 Sq Ft
$269/Sq Ft Est. Value

Last Sold June 28, 2024

Last sale price $2,450,000 $263 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $16,475/month

19 Days on Market

Highlights

  • 0.57 Acre Lot
  • Wood Flooring
  • Balcony
  • Horizon Elementary School Rated A-
  • Den
  • Detached Garage

About This Home

As of June 2024

This property provides a rare opportunity for an investor or developer. Each unit is spacious and includes private entry, private garage and finished basement. Buyer can opt to hold this as income property or may be able to potentially sell the units as individual condos. All units are individually metered and have been impeccably maintained w/many updates. See list of improvements. Lease end dates for additional units: 1236-5/24 ($1925), 1240-7/24 ($1925), 1244-6/25 ($2025). 1248 is owner-occupied (rent est. $2200). Units are considered to be identical floor plan and square footage is estimated at 2330 per unit. Other units in the area are renting as high as $2,200. Square footage estimated and should be verified by buyer if essential.

Last Agent to Sell the Property

Frank Pohlkamp

Assist 2 Sell Homes 4 You Realty License #36244-90 1253-10 Listed on: 04/11/2024

Co-Listed By

Melissa Dale

Assist 2 Sell Homes 4 You Realty License #96352-94

Last Buyer's Agent

Jon Poletti

Haven Real Estate Partners License #59287-90

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,835

Year Built

  • Built in 2007

Lot Details

  • 0.57

Home Design

  • Brick Exterior Construction
  • Poured Concrete
  • Vinyl Siding

Interior Spaces

  • En-Suite Primary Bedroom
  • 2-Story Property
  • Fireplace
  • Family Room
  • Den
  • Wood Flooring
  • Partially Finished Basement
  • Basement Fills Entire Space Under The House

Kitchen

  • Eat-In Kitchen
  • Oven or Range
  • Dishwasher

Laundry

  • Laundry in unit
  • Washer and Dryer

Parking

  • Detached Garage
  • 8 Open Parking Spaces
  • Garage Door Opener
  • Outside Parking

Schools

  • Horizon Elementary School
  • Prairie View Middle School
  • Sun Prairie West High School

Utilities

  • Forced Air Heating and Cooling System
  • Separate Meters
  • Individual Controls for Heating
  • Separate Water Meter
  • Water Softener is Owned
  • High Speed Internet

Additional Features

  • Balcony
  • 24,829 Sq Ft Lot
  • Property is near bus stop

Community Details

  • 8 Units
  • Net Operating Income $113,894

Listing and Financial Details

  • Assessor Parcel Number 0810-113-6185-2

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,835

Year Built

Built in 2007

Lot Details

0.57 Acres

Listing Details

  • Municipality: Sun Prairie
  • Status Detail: Sold
  • Mailing City: Sun Prairie
  • Class: Multi Family
  • Type: Multi Family
  • Type Of Property: Apartment building, 2 story, Townhouse style units
  • Items Excluded: Tenants' and owner's personal property.
  • Items Included: Refrigerator (8), Range/oven (8), Washer (8), Dryer (8), Water Softener (8).
  • Miscellaneous: Close to bus line, Water Softener Owned, Internet - Cable
  • Year Built: 2007
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full, Partially finished, Poured concrete foundatn
  • Number Dish Washers: 8
  • Number Dryers: 8
  • Number Units W Ac: 8
  • Number Washers: 8
  • Number Water Softeners: 8

Exterior Features

  • Exterior: Vinyl, Brick, Fiber Cement

Garage/Parking

  • Heating Fuel: Natural Gas
  • Heating Type: Forced air
  • Parking Stalls Inside: 16
  • Parking Stalls Outside: 8

Utilities

  • Water Waste: Municipal water, Municipal sewer
  • Park Unit: 2 stall garage, Detached, 2 spaces, Outside, Opener inc
  • Utilities: Separate elec meters, Separate gas meters, Separate water meters

Fee Information

  • Total Expenses: 69361

Schools

  • Elementary School: Horizon
  • High School: Sun Prairie West
  • Middle School: Prairie View
  • School District: Sun Prairie

Lot Info

  • Estimated Aces: 0.57
  • Zoning: Res Income

Rental Info

  • Total Income: 192900

Tax Info

  • Net Taxes: 28835
  • Tax Year: 2022
  • Assessor Parcel Number: 0810-113-6185-2

Multi Family

  • Number Of3 Bedrooms: 8
  • Number Of Units: 8

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 11, 2024
Closed on
Jul 22, 2024
Sold by
Coordinated Partners Inc
Bought by
Walnut 90 Llc
Seller's Agent
Frank Pohlkamp
Assist 2 Sell Homes 4 You Realty
Buyer's Agent
Jon Poletti
Haven Real Estate Partners
List Price
$2,975,000
Sold Price
$2,450,000
Premium/Discount to List
-$525,000
-17.65%
Views
85
Current Estimated Value
$2,505,231

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$55,231
Avg. Annual Appreciation
1.28%
Original Mortgage
$1,650,000
Outstanding Balance
$1,622,856
Interest Rate
6.99%
Mortgage Type
New Conventional
Estimated Equity
$882,375

Purchase Details

Closed on
Jan 15, 2009
Sold by
Anchorbank Fsb
Bought by
Coordinated Partners Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$685,000
Interest Rate
5.53%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 26, 2008
Sold by
Cason Brian and Wellington Place Properties Ll
Bought by
Anchorbank Fsb
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Walnut 90 Llc $2,450,000 None Listed On Document
Coordinated Partners Inc $1,100,000 None Available
Anchorbank Fsb $1,360,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Walnut 90 Llc $1,650,000
Previous Owner Coordinated Partners Inc $685,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/28/2024 06/28/24 Sold $2,450,000 -17.6% $263 / Sq Ft
04/12/2024 04/12/24 For Sale $2,975,000 +21.4% $319 / Sq Ft
04/11/2024 04/11/24 Off Market $2,450,000 -- --
Source: South Central Wisconsin Multiple Listing Service

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
2025 $37,052 $1,762,300 $176,000 $1,586,300
2023 $32,542 $1,762,300 $176,000 $1,586,300
2022 $28,835 $1,258,000 $144,000 $1,114,000
2021 $28,289 $1,258,000 $144,000 $1,114,000
2020 $27,977 $1,258,000 $144,000 $1,114,000
2019 $27,214 $1,080,100 $140,400 $939,700
2018 $25,048 $1,080,100 $140,400 $939,700
2017 $23,836 $1,080,100 $140,400 $939,700
2016 $22,656 $902,600 $136,000 $766,600
2015 $21,929 $902,600 $136,000 $766,600
2014 $22,397 $905,500 $136,000 $769,500
2013 $24,811 $905,500 $136,000 $769,500
Source: Public Records

Agents Affiliated with this Home

  • Frank Pohlkamp

    Seller's Agent in 2024

    Frank Pohlkamp

    Assist 2 Sell Homes 4 You Realty

    (608) 575-4968

    2 in this area

    70 Total Sales

    Frank Pohlkamp
    Section Image

  • M

    Seller Co-Listing Agent in 2024

    Melissa Dale

    Assist 2 Sell Homes 4 You Realty

    (608) 658-2529

    1 in this area

    25 Total Sales

    Melissa Dale
    Section Image
  • Jon Poletti

    Buyer's Agent in 2024

    Jon Poletti

    Haven Real Estate Partners

    (608) 213-8242

    5 in this area

    101 Total Sales

    Jon Poletti
    Section Image
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Map

Source: South Central Wisconsin Multiple Listing Service

MLS Number: 1974742

South Central Wisconsin Multiple Listing Service

APN: 0810-113-6185-2

Wisconsin Dane County Madison 53590 Westside

1220 Prospect Commons, Madison, WI

Not Listed for Sale

MultiFamily

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South Central Wisconsin Multiple Listing Service IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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