Greater Madison Area Listings
Westway Place is a 10-unit apartment building located in the desirable Dane county suburb of Stoughton. The property was built in 1983 and underwent an extensive renovation starting in 2018, totaling over $151,000 of capital improvements. All apartments are spacious corner units with two bedrooms, a deck or patio, full kitchen appliance package and central heat & air. Westway place is a turnkey property in a high-cost, growing Dane county submarket. The property offers an immediate 8% leveraged cash return with total annual returns in excess of 16%.
Coachlight Village is a 16-unit apartment property in the Town of Madison. The property was built in 1973 on 0.76 acres of land. The unit mix is comprised of 8 one-bedroom and 8 two-bedroom apartments. The property is located adjacent to the Novation Campus, which will have over 1 million square feet of office, flex and retail space when completed and will bring several hundred jobs to the immediate area. Coachlight Village offers immediate 10% cash returns with in-place rents $80+ below competing area properties.
Williamstown Bay East
Williamstown Bay East is a 26-unit older-adult property located just east of Stoughton Road in Madison. The property is comprised of 22 one-bedroom and 4 two-bedroom units. Williamstown Bay East was developed under the Section 42 tax credit program but is now operated as market-rate housing and is offered to investors on a ‘free and clear’ basis. Current in-place average rents fall below the 50% county median income (CMI) levels in Dane County, providing considerable rent upside. The subject property is a stable, turnkey senior building offered at an 8.4 gross multiple and priced below 60% of replacement cost.
Abbey Hill is a 64-unit apartment community developed in 1974 on 3 acres of land located just off the W. Beltline/Fish Hatchery interchange in the city of Fitchburg (Madison). The unit mix is comprised of One- and Two-Bedroom units in four 16-Unit buildings. Abbey Hill offers affordable rents in a high-cost area and is competitively positioned for rent growth and strong occupancy in an area of sustained commercial development and employment growth. The offering price has been reduced to $4,950,000 and is just 7.4X’s gross scheduled income. Abbey Hill is projected to generate leveraged cash returns of 10% per annum and tax-advantaged annual total returns of 20% to 24% per year.
Executive East is a 30-Unit apartment building built in 1966 on 0.68 acres of land in Monona, Wisconsin. The property is comprised of one 2-story building with thirty (30) 1-bedroom apartments and an estimated 18,300 rentable square feet. Recent improvements include new exterior and interior LED lighting, resealed and striped parking lot, extensive drainage improvements, updated apartment interiors (in most units), and extensive replacement of original building plumbing.
Burma 24 Apartments is comprised of three adjacent 8-unit brick apartment buildings. All apartments are two bedroom corner units with an open kitchen concept and bedrooms featuring hardwood floors. Updates include 6-8 units that have been renovated with kitchen and bathroom upgrades, all roofs replaced in 2006 and windows replaced in 1999. The property is conveniently located within 5 minutes of the Beltline Highway.
University & Kendall Avenue
University and Kendall is comprised of 5 buildings with 20 total units located on the 2000 block of Old University Avenue in the heart of the west UW Campus. The apartments are spacious and loaded with character such as wood floors, built-in cabinetry, large windows, arched doorways, and more. The property features abundant on-site parking (almost one space/bedroom). Rare opportunity to purchase prime rental housing on University Avenue!
Heather Downs is an apartment property built between 1980 and 1997 and located on Madison’s west side between Exact Sciences and Epic Systems headquarters. The property is comprised of 15 apartment buildings totaling 128 units. There are 24 efficiency, 36 one bedroom and 68 two bedroom units, including 12 two-bedroom duplex units. Units feature a private balcony or patio, dishwashers, garbage disposals, fireplaces, and 52 units include an in-unit washer and dryer. Tenants pay electric, heat, A/C.
Arbor Arms is a 34-unit apartment property located just south of the W Beltline – Todd Drive interchange in west central Madison. The property is comprised of updated one, two, and three-bedroom units. In addition, the property features an on-site office, a large exercise room, and a fitness room.
Haven Park is a 24-unit apartment property located just southwest of the W Beltline – Fish Hatchery Rd. interchange in west central Madison. The property is comprised of 1 bedroom/1 bath units featuring desirable front-to-back open floor plans, spacious kitchens with dishwashers and a window, and resident controlled heat and air conditioning. The building has attached garages and on-site laundry.
Bristol Arms is a 49-unit apartment building just south of the W. Beltline-Todd Drive interchange in west central Madison. The property is comprised of a mix of one and two-bedroom units (some with in-unit washers and dryers). Other property features include an intercom access system, large fitness room, and private resident storage areas. Long-time owner has meticulously maintained the building.
Prairie Park is a signature, older-adult tax credit property with a superior occupancy history in a prime location on Madison’s affluent west side. The building offers a business, activity and fitness center. The property offers a variety of floor plans, and each unit features an in-unit washer/dryer, central heat and air conditioning, an open-kitchen concept complete with a full appliance package, a patio or balcony and large bedrooms and bathrooms. With the growing demographic of senior renters, the property is poised for future rent growth. Current in-place
monthly rents are $7,400 below current maximum allowable tax credit rent levels. The Property is offered subject to a Land Use Restriction Agreement (LURA) that expires on December 31, 2032.
Nakoma Heights is a 144-unit property in the city of Fitchburg with in-place rents that are far below the market and the allowable maximum levels. Landlord pays heat, hot water, and water/sewer. The building was built in 1969 (renovated in 2002/2008) and features a community clubhouse, outdoor pool, and separate office and ample outdoor parking.
Mayfair is 50-Unit apartment property built in 1965 on Select units have refurbished countertops. Building is walking distance to Brigham park. On-site parking is provided to residents and is included in the rent. Recent improvements include new roof on one Building (2009), new water softeners (2015), new water heaters (2014/2013), parking lot resurfacing and new storm drain and basin (2008), and new hallway carpets (2013 and 2014).
Tuckaway is a turnkey, best-in-class property featuring 10 spacious apartment homes in Stoughton, Wisconsin. Tenants pay heat. Recent updates include a new roof. Amenities include in-unit W/D, attached garages, and central heat and A/C. With an
average unit size of 1,146 SF, the rents are a tremendous overall value at an average of $0.78 / SF.
Chalet Gardens is 99-Unit apartment community built include an on-site office, a large community room with fire place and elevator in the 35-Unit “Chalet” building, private resident storage, grilling areas and a park-like setting with mature trees of a variety of species. The occupancy has averaged in excess of 97% over the past 3 years. Recent improvements have been made to many of the roofs, boilers, water heaters, windows, flooring, and appliances.
Hanover Square is a 65-unit apartment community developed in 2001-2002 on roughly 4.17 acres of land on the east side of Madison, Wisconsin. The property is comprised of one 3-story building with 33 units and underground parking (2461 Old Camden Square), and three townhouse-style buildings totaling 32 units, each equipped with a private attached garage. The unit mix is spread across one, two, and three bedroom floor plans. Apartment occupancy has been an exemplary 98.5% since 2012.
West Lake Cove
West Lake Cove is a 19 unit apartment built in 1968 in the heart of Middleton Wisconsin, just west of lake Mendota. This property features low-maintenance brick exterior, a new roof in 2014, and very low sub-market vacancy.
Orchard Village is a 90-unit property developed in 1986 in Madison. The property is comprised of nine 10-unit buildings with underground and outdoor parking. There are 90 two-bedroom units appliances and in-unit washer and dryer. Orchard Village offers an exceptional rental value to renters in the West Side Madison apartment market.
Karstens Apartments is a 24-unit property located in Madison. Built in 1969, Karstens Apartments consists of three brick and vinyl buildings with attractive floor plans, featuring eat-in kitchens and large patios/balconies.
Three 4-Unit apartment buildings built circa 1994 and located at the corner of Siggelkow and Terminal are two bedroom one bath corner units, featuring central heat and air and attached private garages. Offered for sale by the original owner developer and represents a rare opportunity for investors to purchase high-quality rental investment property in McFarland.
Cottage Grove, Wisconsin. The property is comprised of one three-story with underground parking. The Property enjoys a quiet wooded developments within close proximity, including a
new Copp’s grocery store and Great Dane Brewery. The Subject Property is a well-maintained property sold by a long-term non-profit Owner with an excellent occupancy history in a safe and
affluent Dane County east side rental community.
E. Gorham St.
912 & 916 East Gorham Street are two apartment buildings located on the Isthmus in the heart of downtown Madison’s residential rental district. One Bedroom, Two Bedroom and Three Bedroom floor plans, each with distinctive finishes such as
hardwood floors and built-in cabinetry that enhance rental appeal. An owner-operator can expect low vacancy, steadily increasing rents and long-term redevelopment potential.
Uptown Apartments consist of 12 units comprised of 1s, 2s and 3s with unique floor plans located in the heart of downtown Madison’s thriving residential student district. The property features 4 off-street parking stalls, newer roofs and new water heaters. Well-maintained with a superb occupancy history,
Uptown Apartments offers investors a superb opportunity to purchase a prime rental property in the one of the strongest rental sub-markets in the state.
Brighton Square is a 122-unit apartment community located across from Novation Campus, a $100 million office development. The property features extensive improvements and updates such as renovated kitchens and newer roofs. Brighton Square offers investors the opportunity to purchase a highly-visible property at well below replacement cost.
Big Sky Manor &
High Point Manor
Big Sky Manor and High Point Manor are two apartment buildings located on S. High Point Road, just south of Mineral Point Road in the heart of Madison’s affluent west side. Big Sky Manor is a 79-Unit apartment property built in 1986 with
underground parking for 40 vehicles. High Point Manor is a 36-Unit apartment property built in 1985 with underground parking for 18 vehicles. Big Sky Manor and High Point Manor are high-quality apartments in an absolutely prime location.
Park Ridge is a 48-unit property built in 1995. The property is comprised of three buildings and an outdoor parking lot with 71 stalls and 20 detached garages. Park Ridge is a well-maintained property in the stable and historic Sauk County community of Baraboo. Recent improvements include all new roofs from 2011-2012 and interior hallway carpeting within the last 5 years. This is a high quality asset, providing competitive amenities like in-unit washer/dryers and central air conditioning.