1923 Sherman Avenue Active Save Request In-Person Tour Request Virtual Tour
Madison,WI 53704
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2000706
Year Built 1955
Annual Tax Amount $42,303
Tax Year 2024
Lot Size 0.917 Acres
Acres 0.917
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!
Location
State WI
County Dane
Zoning TR-V2
Rooms
Basement Full,Exposed,Full Size Windows,Partially Finished
Interior
Heating Natural Gas
Cooling Radiant/Electric
Inclusions 26 refrigerators, 26 oven/ranges, 26 in wall A/C's, water heaters, water softener, boiler, fitness equipment.
Exterior
Exterior Feature Brick
Utilities Available Separate Electric Meters
Building
Dwelling Type Apartment Building,2 Story
Sewer Municipal Water,Municipal Sewer
New Construction N
Schools
Elementary Schools Lapham/Marquette
Middle Schools Okeeffe
High Schools East
School District Madison
Others
Virtual Tour https://app.stepinsidemedia.com/sites/1923-sherman-ave-madison-wi-53704-16408497/branded