This fully leased 4-unit apartment building offers steady cash flow and well-maintained living spaces. Built in 1989, 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

• Currently fully leased with long-term tenants

• Gross monthly rent: $4,710, with one unit turning over soon—ideal for rent increase or owner occupancy

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

Recent Upgrades:

• All refrigerators replaced – June 2022

• New water softener – May 2022

• Energy efficiency improvements – October 2022:

  • Blower door test

  • Attic air sealing & additional insulation

  • Bathroom vent fans replaced

Condition Notes:

• Original roof (1989)

• Mostly original windows, some with broken seals

• Driveway and entryway show signs of settling

Showings by appointment only. Serious inquiries welcome.