NOT LISTED FOR SALE

245 E Summit Ave Wales, WI 53183

Estimated Value: $1,363,000 - $1,521,000

Studio
-- Bath
7,884 Sq Ft
$185/Sq Ft Est. Value

Last Sold June 20, 2024

Last sale price $1,532,700 $194 Per Sq Ft

Est. 5% decrease in value since last sale

Current estimated payment $8,581/month

7 Days on Market

Highlights

  • 2.6 Acre Lot
  • Enclosed Parking
  • Heating Available
  • Wales Elementary School Rated A

About This Home

As of June 2024

Stately 8-unit fully occupied apartment building offered to add to your investment portfolio or to start something new you have only dreamed of! All units offer 2 bds/1 bath, storage lockers and ample parking. 7 of 8 units fully renovated with LVP floors, SS appliances, granite countertops and in-unit laundry. Common areas updated and units are separately metered for heat. Upper units have balconies. Surface parking for 18 vehicles. Take Seller's draft plans to construct 14 townhomes on the property (then, totaling 22 units), create your own development project or enjoy an existing cash flowing property! So many options! Contact Village for further details on the development & approval process for Seller's draft plans or your own. Broker has not verified building/property dimensions.

Last Agent to Sell the Property

Krisstina Ebner

Port & Bay Real Estate Co. LLC Brokerage Phone: 414-250-0700 License #59511-90 Listed on: 05/10/2024

Last Buyer's Agent

Mike Roth

Shorewest Realtors, Inc. License #23405-90

Shorewest Realtors, Inc.

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $12,664

Year Built

  • Built in 1970

Lot Details

  • 2.6 Acre Lot

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 7,884 Sq Ft Home
  • Multi-Level Property

Basement

  • Basement Fills Entire Space Under The House
  • Block Basement Construction
  • Laundry in Basement

Parking

  • Enclosed Parking
  • Outside Parking

Schools

  • Kettle Moraine Middle School

Utilities

  • Heating Available
  • Well Required

Community Details

  • 8 Units

Listing and Financial Details

  • Exclusions: Tenants' and Seller's personal property.

Property Details

Home Type

Apartment

Est. Annual Taxes

$12,664

Year Built

Built in 1970

Lot Details

2.6 Acres

Listing Details

  • Prop. Type: Multi-Family
  • Inclusions: 8 stoves, 8 refrigerators, 8 wall-sleeve A/C units, water softener, 1 common area washer and dryer, 7 in-unit washers and dryers.
  • Directions: On Hwy 18 (Summit Avenue) approximately 2 blocks east of Hwy 83 on the south side of the street.
  • New Construction: No
  • Year Built: 1970
  • Cleared Acreage: Over 2 acres to 5 acres
  • Full Street Address: 245 E Summit AVENUE
  • Type 5 Heat Fuel: Electric
  • Lot Acreage: 2.6
  • Municipality Type: Village
  • Lot Description Waterfront: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Seller Owned: Dryer, Seller Owned: Washer, Seller Owned: Water Heater
  • Has Basement: Block, Full, Laundry Facilities
  • Interior Amenities: Water Softener
  • Second Floor Total Sq Ft: 7884.00

Exterior Features

  • Exclusions: Tenants' and Seller's personal property.
  • Exterior Building Type: Apartment Building
  • Exterior: Brick/Stone, Brick

Garage/Parking

  • Garage/Parking: Outdoor Space, Inside Parking, Outside

Utilities

  • Water Waste: Municipal Sewer, Well

Condo/Co-op/Association

  • Stories in Building: 1 - 2

Schools

  • Junior High Dist: Kettle Moraine

Lot Info

  • Zoning: R4
  • Acreage Range: 1 to 4.99

Tax Info

  • Tax Year: 2023
  • Total Taxes: 12664.0

MLS Schools

  • Middle School: Kettle Moraine

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2024
Closed on
Jun 20, 2024
Sold by
Infinity Properties Llc
Bought by
245 E Summit Ave Llc
Seller's Agent
Krisstina Ebner
Port & Bay Real Estate Co. LLC
Buyer's Agent
Mike Roth
Shorewest Realtors, Inc.
List Price
$1,350,000
Sold Price
$1,532,700
Premium/Discount to List
$182,700
13.53%
Views
10
Current Estimated Value
$1,459,582

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$73,118
Avg. Annual Appreciation
-2.79%
Original Mortgage
$432,243
Outstanding Balance
$426,801
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$1,032,781

Purchase Details

Listed on
Oct 20, 2020
Closed on
Aug 16, 2021
Sold by
Sarcar Properties Llc
Bought by
Infinity Properties Llc
Seller's Agent
Pat Mullikin
M3 Realty
Buyer's Agent
MetroMLS NON
NON MLS
List Price
$980,000
Sold Price
$980,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.99%
Original Mortgage
$2,650,000
Interest Rate
2.8%
Mortgage Type
Construction

Purchase Details

Closed on
Mar 22, 2005
Sold by
Weber David E and Weber Kim M
Bought by
Sarcar Properties Llc

Purchase Details

Closed on
Apr 28, 2003
Sold by
Jenks Delores E and Fleming Joseph
Bought by
Weber David E and Weber Kim M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
5.86%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
245 E Summit Ave Llc $1,532,700 Knight Barry Title
Infinity Properties Llc $980,000 None Available
Sarcar Properties Llc -- --
Weber David E $550,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 245 E Summit Ave Llc $432,243
Previous Owner Infinity Properties Llc $2,650,000
Previous Owner Weber David E $325,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/20/2024 06/20/24 Sold $1,532,700 +13.5% $194 / Sq Ft
05/10/2024 05/10/24 For Sale $1,350,000 +37.8% $171 / Sq Ft
08/16/2021 08/16/21 Sold $980,000 0.0% $124 / Sq Ft View Prior Sale
05/16/2021 05/16/21 Pending -- -- --
10/20/2020 10/20/20 For Sale $980,000 -- $124 / Sq Ft
Source: Metro MLS

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 $11,829 $1,142,600 $281,000 $861,600
2023 $12,427 $1,069,100 $281,000 $788,100
2022 $12,664 $1,069,100 $281,000 $788,100
2021 $13,742 $1,069,100 $281,000 $788,100
2020 $10,456 $664,100 $200,000 $464,100
2019 $10,203 $664,100 $200,000 $464,100
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2024

    Krisstina Ebner

    Port & Bay Real Estate Co. LLC

    (414) 550-8348

    1 in this area

    13 Total Sales

    Krisstina Ebner
    Section Image

  • M

    Buyer's Agent in 2024

    Mike Roth

    Shorewest Realtors, Inc.

    (262) 798-8165

    4 in this area

    731 Total Sales

    Mike Roth
    Section Image
  • Pat Mullikin

    Seller's Agent in 2021

    Pat Mullikin

    M3 Realty

    (262) 787-8995

    1 in this area

    71 Total Sales

    Pat Mullikin
    Section Image

  • M

    Buyer's Agent in 2021

    MetroMLS NON

    NON MLS

See All Agents

Map

Source: Metro MLS

MLS Number: 1874982

Metro MLS

APN: WLSV-1453-999-013

Wisconsin Waukesha County Wales 53183

245 E Summit Ave, Wales, WI

Not Listed for Sale

MultiFamily

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