$962000 Price Analysis    ♡   Madison, WI 53703 Unknown bed None bath 2350 SqFt ($409/SqFt) 2614SqFt lot. Built 1904 Listed 2024-06-17, Taxes $10834 | Ⓧ USDA Ineligible due to price & location near Madison |
RARE Isthmus INVESTMENT OPPORTUNITY to purchase two adjoining properties in downtown Madison as a Possible Redevelopment Site OR keep these 2 well maintained
Professionally managed buildings with the same owner(s) for the past 21 years in your investment portfolio. Sales of Parcel #0-8(115 N Hancock) and Parcel #0-0(121 N Hancock) will be contingent upon the simultaneous sale and closing of the adjacent property.
Unt 5 is a 550 sf, 1 bdrm, 1 bath with a rent/month of $1160. Unit 2 is an efficiency. Total NOI income includes 13 parking stalls rented at $150 per stall (total 16 stalls). See attached docs for additional Financial/Building Info. (IMPORTANT ~ MLS #1964319 @ $962, 000. and MLS #1964317 @ $1, 135, 000. Must be Sold Together ). Gross Rent Multiplier equals 11.88
Presented by Patrick Bushek at
Restaino & Associates ERA Powered.
Property MLS #1964319 from SCWMLS
Laundry Features: # Washers: 1, # Dryers: 1
Heating Fuel: Natural Gas
Water Heaters: 2
Lot Size Square Feet: 2614
Garage Features: Outside
Parking Total: 5
High School: East
Middle School: OKeeffe
School District: Madison
Map directions Map directions Map directions Map directions Map directionsNumber of Units: 5
Number of Studio Units: 1
Number of 1 Bedroom Units: 4
Bedrooms in Unit-1: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Full Bathrooms in Unit-1: 1
Full Bathrooms in Unit-2: 1
Full Bathrooms in Unit-3: 1
Full Bathrooms in Unit-4: 1
Unit-1 Description: Eat-in kitchen, Range/oven, Refrigerator, Wood or sim. wood floor
Unit-2 Description: Range/oven, Refrigerator
Unit-3 Description: Eat-in kitchen, Range/oven, Refrigerator
Unit-4 Description: Eat-in kitchen, Range/oven, Refrigerator
Unit-1 Square Feet: 600
Unit-2 Square Feet: 400
Unit-3 Square Feet: 650
Unit-4 Square Feet: 700
Unit 1 Total Actual Rent: 1380
Unit 2 Total Actual Rent: 1240
Unit 3 Total Actual Rent: 1260
Unit 4 Total Actual Rent: 1310
Annual Tax Amount: 10497
Source Listing Status: Active
County: Dane
Directions: On Hancock Street.
Tax Year: 2023
Source Property Type: Multi Family
Exclusions: Tenants Personal Property, RENTED Water Softener
Inclusions: 5 Stoves, 5 Refrigerators, 5 Parking Spaces (UNIT #5 Rent $1, 160. per month ~ Expires May 29, 2025)
Area: MADISON - C E01
Source Neighborhood: MADISON - C E01
Parcel Number: 0709-133-2114-0
Postal City: Madison
Zoning: DR1
Property Subtype: Apartment building
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $427000 + $106000 $533000 | $10834 |
| 2021 | $412000 + $96000 $508000 | $11200 |
| 2020 | $365900 + $95700 $461600 | $10665 |
| 2019 | $343900 + $95700 $439600 | $10112 |
| 2018 | $322900 + $95700 $418600 | $9349 |
| 2017 | $322900 + $95700 $418600 | $9686 |
| 2016 | $311900 + $86700 $398600 | $9475 |
| 2015 | $292900 + $86700 $379600 | $9113 |
| 2014 | $274900 + $86700 $361600 | $8760 |
| 2013 | $263900 + $86700 $350600 | $8645 |
| 2012 | $263900 + $86700 $350600 | $8408 |
| 2011 | $263900 + $86700 $350600 | $8000 |
| 2010 | $263900 + $86700 $350600 | $7724 |
| 2008 | $302900 + $86700 $389600 | $7650 |
| 2007 | $302900 + $86700 $389600 | $7762 |
$962000
SCWMLS
Sold 2010-10-12
$350600
Public Record
Sold 2003-02-10
$322000
Public Record
Operating Expense: 30768
Property Age: 120
Levels or Stories: Apartment building
Separate elec meters
Water Source: Municipal water
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.