This fully leased 4-unit apartment building offers steady cash flow and well-maintained living spaces. Built in 1986, each of the four 2-bedroom, 1-bath units features a private 1-car garage and separate utility metering.

The property is subject to an affordability covenant requiring all units be rented to low- to moderate-income households at or below 80% of area income limits, based on HUD’s Small Area Fair Market Rent (SAFMR) guidelines for Dane County, effective through October 2025.

Property Features:

• Four 2BR/1BA units

• Private 1-car garage per unit

• Fully leased with long-term tenants

• Gross monthly rent: $5,110

• Tenants pay all utilities except water and common area electric (paid by owner)

Recent Upgrades:

• Roof replaced – 2011

• Energy efficiency improvements – October 2022:

  • Blower door test

  • Attic air sealing & additional insulation

  • Bathroom vent fans replaced

Condition Notes:

• Mostly original windows, some with broken seals

• Entryway walk shows signs of settling and heaving

Showings by appointment only. Serious inquiries welcome.