1. Wisconsin
  2. Madison
  3. 1923 Sherman Avenue
$3,800,000

1923 Sherman Avenue, Madison, WI 53704

  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1955
  • Property Lot Size Icon0.92acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

This 26 unit, all brick, apt building has been with the same owner for the last 25 years! The property consists of 26 two bedroom apts with uniform floor plans. Current rents range from $1,075 (legacy tenants) to $1,350 (latest turn overs). Units should rent for $1,350+, as is, with just one turn over. Some updates include 2017 driveway/parking lot, 2016 new high efficiency boiler, 2023 new water softener, 2025 new water heater & stairwell carpet, 18 units have new flooring since 2020. $383K current annualized rent roll with clear path to $446K/year. Professionally managed (Prima) and operates efficiently at under $120K/year (2024) in operating expenses. Seller's property manager will be offering renewals for Jul & Aug shortly, so call today to control the future of this great property!

Listing Status:
Active
Listing Office:
The Hub Realty : 6085564400
Listing Agent:
Ryan Schmitz : 6083450150
MLS ID:
803886063682
  • Basement: FullExposedFull Size WindowsPartially Finished
  • A/C: Radiant/Electric

This listing courtesy of Ryan Schmitz, The Hub Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

E

Emerson Elementary School

2421 E Johnson St, Madison, WI, 53704

Grades PK-5

0.68 miles away

G

Georgia O'Keeffe Middle School

510 S Thornton Ave, Madison, WI, 53703

Grades 6-8

1.00 miles away

E

East High School

2222 E Washington Ave, Madison, WI, 53704

Grades 9-12

0.60 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.