Listing ID1945837
Price$975,000
Price/SqFt$170.07
StatusOffer-Show
SqFt
5,733
Acres
0.240
CountyDane
Property TypeCommercial
Property Sub TypeRetail, Office, Service, Beauty/barber, Apartment building
Listing Agent
Carlos Alvarado
Title:
Principal Broker
Address:
1914 Monroe St
City:
Madison
State/Province:
Wisconsin
Zipcode:
53711
Cell Phone: 608.438.6757
This is a great opportunity to start an income property portfolio with these 4 residential two bedrooms and 2 commercial units. Located on the East side of Madison near Monona with easy access to main roads. Recently renovated, each residential unit has two bedrooms, one bathroom, and a combined dining and living room. Sellers installed new laminate floors, kitchen, and bathroom cabinets in all the units in 2021. The roof was replaced in 2021. Plenty of parking. The property generates great income and is easy to rent. The financials spreadsheet is available upon request.
County
Dane
Price/SqFt
170.07
Property Sub Type
Retail, Office, Service, Beauty/barber, Apartment building
Zoning
CC-T
Approximate Building Dimensions
79x72
Ceiling Height Max
15
Ceiling Height Min
11
Heating/Cooling
Central air, Other, Radiant
Source of SqFt
Assessor
Total Units/Building
6
Unit 1 Gross SqFt
1219
Unit 2 Gross SqFt
575
Unit 3 Gross SqFt
771
Building Parking
11-20 spaces, Paved, Shared
Features
Private Restrooms, Shared Restrooms, Residential unit(s), Inside storage
Fuel
Natural gas
Onsite Parking
yes
Roofing
Other
Water/Waste
Municipal water, Municipal sewer
City/Town/Village
City
County Quarter Section
East Metro Madison
Location
MADISON - C E13
Location
Business district, Free standing, Near Major Highway, Near public transportatn, Residential area
Mailing City
Madison
Present Use
Retail, Office, Beauty/barber shop, Apartment building
Street Frontage
79
Items Excluded
tenants' and sellers' personal property. Main floor washer & dryer.
Items Included
4 refrigerators, 4 range/stoves, 4 disposals, 4 microwaves, 4 dishwashers, water softener, coin operated washer & dryer
Licenses
None
Miscellaneous
Internet - Cable
MLS Number
1945837
Source of Estimated Acres
Assessor
Source of Year Built
Assessor
Status
Active
Status Detail
4
Year Built
1973
Annual Operating Expenses
21453
Business Sale
no
Gross Operating Income
90340
Income/Expenses Year
2022
Lease Only
no
Lease Type
Mixed lease types, Month to month, Multiple years
Net Leasable SqFt
5733
Net Operating Income
68887
Net Taxes
14791
Real Estate Sale
yes
Sale Includes
Lease(s)
Tax Year
2021
Tenant Pays
Electric
Unit 1 Annual Rent/SqFt
17.96
Unit 1 Base Annual Rent
21900
Unit 1 Lease Type
Retail
Unit 2 Annual Rent/SqFt
26.08
Unit 2 Base Annual Rent
15000
Unit 2 Lease Type
Retail
Unit 3 Annual Rent/SqFt
17.46
Unit 3 Base Annual Rent
13200
Unit 3 Lease Type
RES
© 2023 South Central Wisconsin MLS Corporation. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Buyer to verify this information as provided by seller, listing broker, & other parties. The offer of compensation is made only to Participants of the South Central WI MLS and WIREX datashare. Listing data last updated Tuesday, March 21st, 2023.
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