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3738 W Karstens Dr,  Madison,  WI  53704 $814,900 Sold
3738 W Karstens Dr,  Madison,  WI  53704
$814,900
Sold
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 Property Type Multi Family
 Parcel # 080926406102
 County Dane
 Sub Area E03
 Municipality Madison
 MLS# 1950289
 Listing Date 02/12/2023
 Sold Price $794,000
 Close Date 03/31/2023 12:00 AM

MLS Public Remarks  Great Eastside 8 unit near Warner Park and Governors Island Mendota Lake access point. Plenty of parking and views from on top of the hill. Based on projected rent increases this year, gross monthly rent should grow to $88,260 when the last lease matures on August 31, 2023. That would put the asking gross rent multiplier at about 9.23.
Documents and Related Links  
1) Rent Roll
2) Floor Plans
3) 2021-2022 General Expenses
* 2 Documents Not Available via MLS
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  Highway 113 To Troy Drive To Karsten
    • BUILDING INFO  
  • Number of Units  8
  • Year Built  1978
  • # Furnaces  1
  • Heating Type  Rad Elec
  • Heating Fuel  Nat Gas
  • # Water Heaters  1
  • # Water Softeners  1
  • # Stoves  8
  • # Refrigerators  8
  • # Dish Washers  8
  • # Washers  2
  • # Dryers  2
  • # Units w/AC  8
    • TOTAL UNITS BY TYPE  
  • Number of Efficiencies  0
  • Number of 1 Bedrooms  4
  • Number of 2 Bedrooms  4
  • Number of 3+ Bedrooms  0
    • ANNUAL INCOME/EXPENSES  
  • Total Income  0
  • Total Expenses  0
  • Net Operating Inc  0
  • Year  2022
    • ASSESSMENT/SCHOOLS   
  • School District  Madison
  • High School  East
  • Middle  Black Hawk
  • Elementary  Mendota
  • Land Assessment  $49,000
  • Improvements  $625,900
  • Total Assessment  $674,900
  • Net Taxes  $13,350
  • Assessment Year  2022
  • Tax Year  2022
  • Owner  
    • LOT DESCRIPTION  
  • Zoning  SR-V1
  • Subdivision  
  • Name of Lake/River  
  • Est. Total Acres  0.34
  • Source for Est. Total Acres  PubR
    • UNIT INFORMATION  
  • Unit 1  Air conditioning, Balcony/patio, Dining room, Dishwasher, Range/oven, Refrigerator, Separate Storage Unit Inc, Shared Basement
  • Unit 2  Air conditioning, Balcony/patio, Dining room, Dishwasher, Range/oven, Refrigerator, Separate Storage Unit Inc, Shared Basement
  • Unit 3  Air conditioning, Balcony/patio, Dining room, Dishwasher, Range/oven, Refrigerator, Separate Storage Unit Inc, Shared Basement
  • Unit 4  Air conditioning, Balcony/patio, Dining room, Dishwasher, Range/oven, Refrigerator, Separate Storage Unit Inc, Shared Basement
    • Landlord Pays
    Unit Bedrooms Full Baths Half Baths Lease Expiration Date Month Rent Fin Sq.Ft Parking Elec Heat W/S
    1 1 1 0 6/30/2022 $915 775 2 Space No Yes Yes
    2 2 1 0 5/31/2023 $920 800 2 Space No Yes Yes
    3 1 1 0 7/31/2023 $800 625 1 Space No Yes Yes
    4 1 1 0 5/31/2023 $800 625 1 Space No Yes Yes
    Items Included 8 stoves, 8 refrigerators, 8 dishwashers, 8 sleeve A/C units, 1 water heater, 1 water softener and one boiler.
    Items Excluded  Items belonging to tenants in occupancy and the wash machines and dryers which are leased.
    INTERIOR FEATURES  
  • Energy Efficient/Green Features  
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Full, Poured Concrete Foundation
    • EXTERIOR FEATURES  
  • Type   2 flat, 2 story, Apartment building, Other
  • Parking per Unit  1 space, 2 spaces, Outside
  • Barrier-free Features  First floor bedroom, First floor full bath, Open floor plan
  • Exterior  Brick, Vinyl
  • Waterfront  
  • Terms  
    • OTHER FEATURES  
  • Utilities  Sep elec meters each unit
  • Legal Documents  Condition report on file, Lease(s) on file
  • Miscellaneous  Close to bus line, Internet - Fiber, Water Softener Owned



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Madison Property Management, Inc.