Acres0.24
Year1973
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Status:
Under Contract - Offer Show
Property Type:Apartment Building
MLS #:1945836
On Site:96 Days
Lot Size:0.24 Acres
County:Dane
Listing Office
Office:The Alvarado Group, Inc
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.
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Community Information
Address:505 Cottage Grove Rd, Madison, WI 53716
Area:Madison - C E13
County:Dane
City:Madison
Zip Code:53716
School Information
School System:Madison
High School:Lafollette
Middle School:Sennett
Elementary School:Allis
Architecture
Year Built:1973
Exterior: Vinyl, Wood, Brick, Stucco
Construction Type: Apartment building
Unit 1 Bedrooms: 2
Unit 1 Bathrooms: 1 Full
Unit 1 Sq. Ft.: 771
Unit 1 Parking Places: 2 Space
Unit 2 Bedrooms: 2
Unit 2 Bathrooms: 1 Full
Unit 2 Sq. Ft.: 771
Unit 2 Parking Places: 2 Space
Unit 3 Bedrooms: 2
Unit 3 Bathrooms: 1 Full
Unit 3 Sq. Ft.: 771
Unit 4 Bedrooms: 2
Unit 4 Bathrooms: 1 Full
Unit 4 Sq. Ft.: 771
Parking per Unit: Outside
Parking Stalls Outside: 15
Features / Amenities
Heating: Forced air
Fuel: Natural Gas
Property Features
Lot Size:
0.24 Acres
Water / Waste: Municipal sewer, Municipal water
Zoning:CC-T
Directions:Highway 51, take Cottage Grove Road exit to the west
Tax and Financial Info
Tax Year: 2021
Net Taxes: $14,791
Total Assess: $692,000 / 2022
Unit 1 Rent: $1,100 / month
Unit 2 Rent: $1,100 / month
Unit 3 Rent: $1,070 / month
Unit 4 Rent: $1,070 / month
Total Income: $90,340
Total Expenses: $21,453
Net Income: $68,887
Legal Documents: Condition report on file, Income/Exp Report Avail, Lease(s) on file
Schools
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505 Cottage Grove Rd Madison, WI 53716
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Listing Information Last Updated 1/27/2023
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