Description
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:
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Four 2BR/1BA units
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Private 1-car garage per unit
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Currently fully leased with long-term tenants
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Gross monthly rent: $4,790, with one unit turning over soon—ideal for rent increase or owner occupancy
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Tenants pay all utilities except water and common area electric (paid by owner)
Recent Upgrades:
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Roof replaced – 2011
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Energy efficiency improvements – October 2022:
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Blower door test
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Attic air sealing & additional insulation
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Bathroom vent fans replaced
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Condition Notes:
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Mostly original windows, some with broken seals
Showings by appointment only. Serious inquiries welcome.
Details
Updated on June 24, 2025 at 9:52 pm- Price: $700,000
- Property Size: 4205
- Land Area: 0.28
- Bedrooms: 8
- Bathrooms: 4
- Garage Spaces: 8
- Year Built: 1986
- Property Type: 6 - Multi Family Home
- Property Status: For Sale
- Living Room/Great Room Size: 21x12
- Kitchen Size: 9x9
- Dining Room Size: 10x10
- Primary Bedroom Size: 14x11
- Bedroom 2 Size: 10x13
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.
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What's Nearby?
- Active Life
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Active Kneads Massage (14.55 mi)
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Active Outfitters (31.86 mi)
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Active Motorsports (32.34 mi)
- Arts & Entertainment
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Hidden Creek Residences (0.11 mi)
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Cambria Hotel Madison East (0.41 mi)
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Speckled Hen Inn (0.49 mi)
- Restaurants
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Geier's Grill (0.4 mi)
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Perkins Restaurant & Bakery (0.52 mi)
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Ragin Cajun Seafood (0.64 mi)
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