Description
This fully leased 4-unit apartment building offers reliable cash flow, key mechanical upgrades, and strong tenant retention. Built in 1989, each of the four 2-bedroom, 1-bath units includes 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 September 2028.
Property Features:
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Four 2BR/1BA units
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Private 1-car garage per unit
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Fully leased with long-term tenants
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Gross monthly rent: $5,100
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Tenants pay all utilities except water and common area electric (paid by owner)
Recent Upgrades:
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Heat pumps installed – Sep 2023
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All refrigerators replaced – Jun 2022
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New water softener – May 2022
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Energy efficiency improvements – Oct 2022:
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Blower door test
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Attic air sealing & added insulation
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New bathroom vent fans
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Condition Notes:
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Original roof (1989)
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Mostly original windows, some with broken seals
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Driveway shows signs of settling
Showings by appointment only. Serious inquiries welcome.
Details
Updated on June 24, 2025 at 9:51 pm- Price: $720,000
- Property Size: 4208
- Land Area: 0.39
- Bedrooms: 8
- Bathrooms: 4
- Garage Spaces: 4
- Year Built: 1989
- Property Type: 6 - Multi Family Home
- Property Status: For Sale
- Living Room/Great Room Size: 13x21
- Kitchen Size: 8x11
- Dining Room Size: 8x10
- Primary Bedroom Size: 15x11
- Bedroom 2 Size: 13x10
Features
Floor Plans
- 2
- 1
Description:
All units have the same floor plan. Ground floor have a door that goes directly to the private garage. Upstairs have a separate storage unit and garage access from the lobby
Mortgage Calculator
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What's Nearby?
- Active Life
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Active Kneads Massage (13.81 mi)
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Active Outfitters (35.25 mi)
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Active Motorsports (34.59 mi)
- Arts & Entertainment
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Countryside Montessori Preschool (0.13 mi)
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Vera Court Neighborhood Center (0.18 mi)
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NU Natural and Unique Candles and Boutique (0.64 mi)
- Restaurants
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Culver's (0.78 mi)
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Granny's Kitchen (0.85 mi)
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Sahara’s Chicken & Grill (0.85 mi)
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