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138-140 S Franklin Street,  Madison,  WI  53703 $870,000 Sold
138-140 S Franklin Street,  Madison,  WI  53703
$870,000
Sold
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 Property Type Multi Family
 Parcel # 0709-133-1824-6
 County Dane
 Sub Area E01
 Municipality Madison
 MLS# 1966124
 Listing Date 10/19/2023
 Sold Price $800,000
 Close Date 03/18/2024 12:00 AM

MLS Public Remarks  Prime Investment or Residence: this downtown Madison gem has recently been remodeled top to bottom and is ideal for investment or owner-occupation. Included is one unit with 4-beds, 3 baths and another unit with 2-beds, 2 baths. They are both fully leased through May 31, 2024. Further enhancing the lifestyle of this downtown residence are four parking spots, large balconies and porches, and indoor bike storage. This property has versatile potential; turn key, low maintenance investment, long-term residence, or future development site. Located in a prime area with easy access to cultural, recreational, entertainment, and economic hubs, including Lake Monona, Monona Terrace, and the Capitol and many restaurants.
Documents and Related Links  
1) Detalied Drawings and Layout
2) Income & Expenses 2023
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  North On John Nolen Dr Left On E Wilson Right On S Franklin St
    • BUILDING INFO  
  • Number of Units  2
  • Year Built  1890
  • # Furnaces  2
  • Heating Type  ForcAir
  • Heating Fuel  Nat Gas
  • # Water Heaters  2
  • # Water Softeners  2
  • # Stoves  2
  • # Refrigerators  2
  • # Dish Washers  2
  • # Washers  2
  • # Dryers  2
  • # Units w/AC  2
    • TOTAL UNITS BY TYPE  
  • Number of Efficiencies  0
  • Number of 1 Bedrooms  0
  • Number of 2 Bedrooms  1
  • Number of 3+ Bedrooms  1
    • ANNUAL INCOME/EXPENSES  
  • Total Income  0
  • Total Expenses  17714
  • Net Operating Inc  50086
  • Year  2023
    • ASSESSMENT/SCHOOLS   
  • School District  Madison
  • High School  East
  • Middle  OKeeffe
  • Elementary  Lapham/Marquette
  • Land Assessment  $125,200
  • Improvements  $522,500
  • Total Assessment  $647,700
  • Net Taxes  $12,744
  • Assessment Year  2023
  • Tax Year  2022
  • Owner  
    • LOT DESCRIPTION  
  • Zoning  PD
  • Subdivision  
  • Name of Lake/River  
  • Est. Total Acres  0.09
  • Source for Est. Total Acres  PubR
    • UNIT INFORMATION  
  • Unit 1  Air conditioning, Balcony/patio, Dishwasher, Eat-in kitchen, Family/Rec. room, In-unit laundry, Individual heat control, Range/oven, Refrigerator, Washer/dryer, Wood or sim. wood floor
  • Unit 2  Air conditioning, Balcony/patio, Dishwasher, Eat-in kitchen, Family/Rec. room, In-unit laundry, Individual heat control, Private Basement, Range/oven, Refrigerator, Washer/dryer, Wood or sim. wood floor
  • Unit 3  
  • Unit 4  
    • Landlord Pays
    Unit Bedrooms Full Baths Half Baths Lease Expiration Date Month Rent Fin Sq.Ft Parking Elec Heat W/S
    1 4 3 0 5/21/2024 $3450 2,264 2 Space No No Yes
    2 2 2 0 5/31/2024 $2200 1,332 2 Space No No Yes
    3 0 0 0 - $0 0 - - - -
    4 0 0 0 - $0 0 - - - -
    Items Included Tenant leases, two of each: water heaters, furnace/HVAC, refrigerators, ranges, dishwashers, microwaves, garbage disposals, washers, dryers.
    Items Excluded  Tenants' personal property. Seller's personal property.
    INTERIOR FEATURES  
  • Energy Efficient/Green Features  
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Finished, Full, Poured Concrete Foundation
    • EXTERIOR FEATURES  
  • Type   2 flat, 2 story
  • Parking per Unit  Outside
  • Barrier-free Features  First floor bedroom
  • Exterior  Vinyl
  • Waterfront  
  • Terms  
    • OTHER FEATURES  
  • Utilities  Sep elec meters each unit, Sep gas meters each unit, Separate water meters
  • Legal Documents  Certificate of occupancy, Condition report on file, Income/Exp Report Avail, Joint driveway agreement, Lease(s) on file
  • Miscellaneous  Close to bus line, Internet- Fiber available, Water Softener Owned



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Berkshire Hathaway Homeservices True Realty