MLS Public Remarks Truly unique investment opportunity in Madison's Mansion Hill district. This meticulously maintained 7-unit apartment building has been updated and restored from top to bottom, combining the neighborhood's historic class with upscale modernization. Next owner will delight in a turnkey operation with little to no maintenance. 3rd floor features a completely remodeled 3-bedroom penthouse with capitol views. Versatile property: ideal for diverse rental strategies--traditional leases at market rates, short-term rentals, or personal use of the penthouse. Steps from the Capitol Square and the shores of Lake Mendota, this building embodies a quintessential Madison experience. (Property updates, lease details, and rent roll attached in additional docs).
Location City
Other Marketing Area
Mailing City Madison
C/T/V City
Unit #
Directions From E. Gorham Or W. Johnson, Head North Towards Lake Mendota On Wisconsin Avenue, Right On E. Gilman.
Number of Units 7
Year Built 1909
# Furnaces 2
Heating Type Rad Elec
Heating Fuel Nat Gas
# Water Heaters 2
# Water Softeners 1
# Stoves 7
# Refrigerators 7
# Dish Washers 3
# Washers 1
# Dryers 1
# Units w/AC 0
Number of Efficiencies 0
Number of 1 Bedrooms 3
Number of 2 Bedrooms 3
Number of 3+ Bedrooms 1
Total Income 0
Total Expenses 0
Net Operating Inc 0
Year
School District Madison
High School East
Middle OKeeffe
Elementary Lapham/Marquette
Land Assessment $200,000
Improvements $780,000
Total Assessment $980,000
Net Taxes $18,363
Assessment Year 2023
Tax Year 2022
Owner
Zoning DR1 HIS-MH
Subdivision Mansion Hill
Name of Lake/River
Est. Total Acres 0.1
Source for Est. Total Acres PubR
Unit 1 Fireplace
Unit 2
Unit 3
Unit 4
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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 |
8/14/24 |
$1000 |
874 |
None |
Yes |
Yes |
Yes |
2 |
1 |
1 |
0 |
8/15/25 |
$1300 |
500 |
None |
Yes |
Yes |
Yes |
3 |
1 |
1 |
0 |
8/14/24 |
$1400 |
750 |
None |
Yes |
Yes |
Yes |
4 |
2 |
1 |
0 |
N/A |
$2000 |
1,100 |
None |
Yes |
Yes |
Yes |
Items Included All appliances, window coverings, water softener.
Items Excluded Tenant & owners personal property
Energy Efficient/Green Features
Water/Waste Municipal sewer, Municipal water
Basement Finished, Full, Poured Concrete Foundation, Walkout
Type 3 story, Apartment building
Parking per Unit None
Barrier-free Features First floor full bath, Level lot, Open floor plan
Exterior Brick, Stucco
Waterfront
Terms
Utilities
Legal Documents Condition report on file, Lease(s) on file
Miscellaneous Fenced yard, Shared laundry, Water Softener Owned
Above Information Deemed Reliable, But Not Guaranteed
Listing Courtesy of Bruner Realty & Management