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Additional details
Listed by Stark Company, REALTORS
$645,000
Est. payment /mo
8,712 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Contingent
Purchase Type For Sale
Municipality MADISON
Subdivision Oakland Heights
MLS Listing ID 1996302
Year Built 1916
Annual Tax Amount $9,266
Tax Year 2024
Lot Size 8,712 Sqft
Property Description
This well-maintained duplex features a 3-bed and 4-bed unit, generating $59,868 annual gross income. Current rents: $1,970 & $2,519/month, plus $410 for parking & $90 laundry income. With a Gross Rent Multiple (GRM) under 10.8 on in-place rents, this property offers strong cash flow in an A+ location! 2025 updates include a new rubber membrane on the upper roof, increased attic insulation, & freshly painted garage. 2024 updates include new vinyl siding, new aluminum fascia/soffits & gutters. This is the largest and best lot on the block with a full 2-car garage, you can add a second story to take advantage of Madison's ADU laws leveraging this prime location. Recent area comps range from a GRM of 11.9 to 15.1 making this an excellent value and must see!
Location
State WI
County Dane
Zoning TRC4, WP27
Rooms
Basement Partial
Interior
Interior Features High Speed Internet
Heating Natural Gas
Cooling Radiant/Electric
Inclusions 2 Range/ovens, 2 refrigerators, 1 washer, 1 dryer, all window blinds.
Exterior
Parking Features 2 Car, Detached
Garage Spaces 2.0
Building
Dwelling Type 2 Story,2 Flat Up and Down
Sewer Municipal Water, Municipal Sewer
Structure Type Vinyl
New Construction N
Schools
Elementary Schools Franklin/Randall
Middle Schools Hamilton
High Schools West
School District Madison
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