1923 Sherman Avenue new Save Request In-Person Tour Request Virtual Tour
Madison,WI 53704
$ 3900000
8 Beds
4 Baths
3090 SqFt
Key Details
Property Type Multi-Family
Sub Type Apartment building,2 story
Listing Status Active
Purchase Type For Rent
Square Footage 3,090 sqft
MLS Listing ID 2000706
Bedrooms 8
Full Baths 4
Year Built 1955
Annual Tax Amount $42,303
Tax Year 2024
Lot Size 0.917 Acres
Property Sub-Type Apartment building,2 story
Property Description
This 26 unit, all brick, apt building has been with the same owner for the last 25 years! The property consists of 26 two bedroom apts with uniform floor plans. Current rents range from $1,075 (legacy tenants) to $1,350 (latest turn overs). Units should rent for $1,350+, as is, with just one turn over. Some updates include 2017 driveway/parking lot, 2016 new high efficiency boiler, 2023 new water softener, 2025 new water heater & stairwell carpet, 18 units have new flooring since 2020. $383K current annualized rent roll with clear path to $446K/year. Professionally managed (Prima) and operates efficiently at under $120K/year (2024) in operating expenses. Seller's property manager will be offering renewals for Jul & Aug shortly, so call today to control the future of this great property!
Location
State WI
County Dane
Area Maple Bluff - V
Zoning TR-V2
Interior
Heating Radiant
Inclusions 26 refrigerators, 26 oven/ranges, 26 in wall A/C's, water heaters, water softener, boiler, fitness equipment.
Exterior
Parking Features 1 space,Outside
Utilities Available Separate elec meters
Building
Water Municipal water,Municipal sewer
Structure Type Brick
Schools
Elementary Schools Lapham/Marquette
Middle Schools Okeeffe
High Schools East
School District Madison
Others
Virtual Tour https://my.matterport.com/show/?m=dratYupMH2o&brand=0&mls=1&