MLS Public Remarks This is a great opportunity to start an income property portfolio with these 4 residential two bedrooms and 2 commercial units. Located on the East side of Madison near Monona with easy access to main roads. Recently renovated, each residential unit has two bedrooms, one bathroom, and a combined dining and living room. Sellers installed new laminate floors, kitchen, and bathroom cabinets in all the units in 2021. The roof was replaced in 2021. Plenty of parking. The property generates great income and is easy to rent. The financials spreadsheet is available upon request.
Location City
Other Marketing Area
Mailing City Madison
C/T/V City
Unit #
Directions Highway 51, Take Cottage Grove Road Exit To The West
Real estate for sale Yes
Business for sale No
For lease only No
Ann. Rent/SqFt $18
Total Units/Bldg 6
Building Gross SqFt 5,733
Net Leasable SqFt 5,733
Year Built 1973
Source for Year Built PubR
Approx Bldg Dimen 79x72
Street Frontage 79
Parking Fees/Mo. $0
Onsite Parking yes
# of Stories 2
Ceiling Height Min 11
Ceiling Height Max 15
Number of Loading Docks 0
Zoning CC-T
Est. Total Acres 0.24
Source Of Est Acres PubR
Lot Dimensions
Owner
Tradename
Land Assessment $50,000
Assessment Year 2022
Net Taxes $14,791
Tax Year 2021
Improvements $642,000
Total Assessment $692,000
Income/Expenses Year $2,022
Gross Operating Income $90,340
Annual Operating Exp $21,453
Net Operating Income $68,887
| Unit |
Lease Type |
Lease Exp. Date |
Renewal Option |
Base Annual Rent |
Annual Rent/SqFt |
Other Fees/SqFt |
Gross SqFt |
| 1 |
Retail |
monthly |
0 |
$21,900 |
$18 |
$0 |
1,219 |
| 2 |
Retail |
8/31/24 |
0 |
$15,000 |
$26 |
$0 |
575 |
| 3 |
RES |
07/31/23 |
0 |
$13,200 |
$17 |
$0 |
771 |
Items Included 4 refrigerators, 4 range/stoves, 4 disposals, 4 microwaves, 4 dishwashers, water softener, coin operated washer & dryer
Items Excluded tenants' and sellers' personal property. Main floor washer & dryer.
Heating/Cooling Central air, Other, Radiant
Water/Waste Municipal sewer, Municipal water
Basement Slab/None
Fuel Natural gas
Seating Capacity
Type Apartment building, Beauty/barber, Office, Retail, Service
Exterior Treatment Brick, Stucco, Wood
Building Parking 11-20 spaces, Paved, Shared
Roofing Other
Terms/Option
Miscellaneous Internet - Cable
Documents on File Lease(s), P & L statement, Property Condition Report
Location Business district, Free standing, Near Major Highway, Near public transportatn, Residential area
Tenant Pays Electric
Present Use Apartment building, Beauty/barber shop, Office, Retail
Licenses None
Lease Type Mixed lease types, Month to month, Multiple years
Occupied by Tenant(s)
Sale Includes Lease(s)
Features Inside storage, Private Restrooms, Residential unit(s), Shared Restrooms
Above Information Deemed Reliable, But Not Guaranteed
Listing Courtesy of The Alvarado Group, Inc
