PRISM APARTMENTS

27 Units

Madison, WI

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Prism Apartments is a signature 27-unit apartment community developed in 2020 on the north side of Madison, adjacent to the Northside TownCenter shopping center. Madison, WI currently ranks as the top rental market in the Midwest and 2nd in the entire country (according to CoStar), attributed to robust renter demand and tight supply of multifamily properties. The property is strategically situated within a 7-mile radius of the University of Wisconsin-Madison, Lake Mendota, Downtown Madison, Dane County Regional Airport and East Towne Mall, with convenient access to US Highway 30, I-90/39 and I-94. Prism is comprised of 4 Deluxe Studios, 16 One Bedrooms, and 7 Two Bedrooms. The property features heated underground parking with 18 stalls, surface parking for 17 vehicles, central fire alarm sprinkler system, elevator, and a 4th floor lounge with an outdoor terrace. The apartments feature white quartz countertops, stainless steel appliances, in-unit washer and dryer; smart-tech keys, lighting, and thermostats; and high-speed fiber internet. Additionally, the builder installed rooftop solar panels which contribute to a lower utility bill for the landlord. Prism is an excellent opportunity to purchase a 5-year old property that has in-place One- and Two-Bedroom rents that are $400 and $700 below peer properties, respectively, all at a price far below today’s replacement cost.