Renovated
1229 S 72nd STREET 1231, West Allis, WI 53214
For Sale
$325,000
The upper apartment has three bedrooms and one bath, while the lower apartment has two bedrooms and one bath.
Property Size2,538 SF
Price / SF$128.05
Days on Market8
Property Features for 1229 S 72nd STREET 1231
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
reThought Real Estate
Listed By:
Citlalli Jimenez Perez · License #95505-94
(414) 312-3985
Source:
Stefaniakgroup
Added: Oct 31
Changed: Nov 6
Last Checked: Nov 6 at 2:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of reThought Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,538-square-foot duplex, built in 1920, contains two apartments: an upper unit with three bedrooms and one bathroom, and a lower unit with two bedrooms and one bathroom. Plumbing and electrical systems have been replaced, and the work was permitted and completed to code.
The property is in West Allis, near State Fair, Monterrey Market, shopping and dining. The attic is identified as a possible location for an additional unit.
The property is in West Allis, near State Fair, Monterrey Market, shopping and dining. The attic is identified as a possible location for an additional unit.
Key Highlights
- 2,538‑square‑foot duplex built in 1920
- Upper apartment: 3 bedrooms and 1 bathroom
- Lower apartment: 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,198
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,960
$544.0K
Cap Rate 7%
$388,543
$388.5K
Cap Rate 9%
$302,200
$302.2K
Market Conditions
NOI Build-Up for 2,538 SF
Gross rent
$41.1K $16.20/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$38.9K $15.31/SF
− OpEx
−$11.7K −$4.59/SF
NOI
$27.2K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,960
Cap Rate 7%
$388,543
Cap Rate 9%
$302,200
Alternative Uses
Best Use
Multifamily LT 5
$388.5K
$340.0K – $453.3K
NOI $27,198 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$347.1K
$303.7K – $404.9K
NOI $24,296 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$601.9K
$526.6K – $702.2K
NOI $42,130 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Milwaukee County, WI
Properties on Market for Duplexes in Milwaukee County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The upper apartment has three bedrooms and one bath, while the lower apartment has two bedrooms and one bath.
Where is this duplex located?
The property is located at 1229 S 72nd STREET 1231 West Allis, WI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,538‑square‑foot duplex built in 1920; Upper apartment: 3 bedrooms and 1 bathroom; Lower apartment: 2 bedrooms and 1 bathroom
