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Property profile & analytics
OFF-MARKET
Apartment buildings
1221 Lambeth Rd Waukesha, WI 53189-7146
Individually Owned
9-yr Hold
Free & Clear
Property ID
US92-0946619
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Total area
3,915 SF
Lot
0.43 ac (18,731 SF)
Zoning code
RM-2 (PUD)
APN
WAKC1358087
UPID
US92-0946619
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Steven Belter · 9 yrs held
Steven Belter
since 2016
7 recorded transactions
Zoning & alternative use
RM-2 (PUD) · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for multi family residential development at densities not exceeding 17.4 dwelling units per net acre for efficiency apartments, 14.5 dwelling units per net acre for one bedroom apartments, 12.4 dwelling units per net acre for two bedroom apartments, 10.9 dwelling units per net acre for three bedroom or larger apartments, 9.7 dwelling units per net…
Zone name
Multifamily Residential Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
684.93 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,670
Tax year 2023
Assessed value
$375,900
Assessed 2023
Previous assessed
$358,000
+5.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$120,100
Assessed improvement
$255,800
Total market value
$389,171
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1979
Heating
BASEBOARD
Cooling
NONE
Stories
2
Units
4
Rooms
16
Bathrooms
4
Total area
3,915 SF
Lot
0.43 ac (18,731 SF)
Zoning code
RM-2 (PUD)
APN
WAKC1358087
UPID
US92-0946619
Jurisdiction
WAUKESHA
Zoning & alternative use
RM-2 (PUD) · Waukesha, WIZoning RM-2 (PUD) · permitted uses
RM-2 (PUD) · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for multi family residential development at densities not exceeding 17.4 dwelling units per net acre for efficiency apartments, 14.5 dwelling units per net acre for one bedroom apartments, 12.4 dwelling units per net acre for two bedroom apartments, 10.9 dwelling units per net acre for three bedroom or larger apartments, 9.7 dwelling units per net acre for two family units and 5.5 dwelling units per net acre for single family dwellings, The PUD Overlay District is intended to permit development that will, over a period of time, be enhanced by coordinated area site planning, diversified location of structures, diversified building heights and types, or mixing of compatible uses
Zone name
Multifamily Residential Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
684.93 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1979
Heating
BASEBOARD
Cooling
Yes
Stories
2
Units
4
Rooms
16
Bathrooms
4
Lot
0.43 ac
Current owner
From public records · entity-resolved
Steven Belter
Individual
Free & Clear · 9 yrs held
Mailing address
78TH FLYNN RD, HARTLAND, WI 53029-9551
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2019
—
Series 1200 Investments LLC
—
Deed
related
$187,249 · Us Bank NA
Nov 16, 2018
—
1200 Investment LLC
—
Deed
related
$157,249 · Us Bank NA
Nov 30, 2016
—
Steven Belter
Belter & Associates LLC
Quit Claim Deed
related
—
Sep 12, 2016
—
Belter And Associates LLC
—
Deed
related
$140,000 · Us Bank NA
Dec 30, 2015
—
Belter And Associates LLC
Steven Belter
Intrafamily Transfer
related
$200,000 · Us Bank NA
Nov 2, 2011
$234,000
Steven Belter
Anchorbank Fsb
Warranty Deed
$187,200 · Associated Bank
Aug 30, 2011
$207,600
Anchorbank Fsb
Sheriff Of Waukesha County
Trustees Deed
related
—
Jul 13, 1999
$200,000
Oconnor Real Estate Corp
Wisconsin Oconnor Corp
Quit Claim Deed
related
$511,680 · M & I Marshall & Isley Bank
—
—
Oconnor Real Estate Corp
—
Deed Of Trust
related
$265,000 · Anchor Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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