505 Cottage Grove Rd

Madison, WI 53716 View Map $975,000 Schedule a Tour
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.

Mortgage Calculator

$000 Monthly Payment
Loan and interest only.
Mike Lenz

Mike Lenz

(608) 228-7252
Senior Loan Officer

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Detailed Maps

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
GO SEE THIS LISTING
505 Cottage Grove Rd Madison, WI 53716
 
ASAP
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Jan
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Jan
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Jan
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Listing Information Last Updated 1/27/2023
Copyright 2023 South Central Wisconsin MLS Corporation. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify perspective properties consumers may be interested in purchasing. This information, provided by seller, listing broker, and other parties, may not have been verified.