Overview

Listing ID:#20193862

Building SF:12,000

Parcel Size:0.45 Acres

Price:$2,100,000

Building PSF:$175.00

Property Type:Multi-Family

Date Available:Now

4-Parcel Isthmus Assemblage

Rare 4-parcel, 7-unit portfolio in Madison's core Isthmus - the city's most walkable, in-demand location. Combines true neighborhood feel w/immediate access to downtown, restaurants, grocery, entertainment, parks, major employers & the Capitol 8 blocks away. Includes 820, 822, 824 & 828 E Dayton St. Compelling opportunity for investors seeking current income+upside, multifamily developers pursuing scarce assemblage scale, & smaller owners wanting control of a rarely available Isthmus footprint. Opportunities to acquire this kind of assembly in this location are few & far between, which is exactly why the value proposition is so compelling. Current rents offer upside relative to price per SF, & raw land pricing for development has moved dramatically in recent years. Hold, renovate, reposition, or redevelop. Rare location, rare opportunity. $165k gross revenue, $119,500 NOI Parcel #'s: 0709-132-1011-1, 0709-132-1012-9, 0709-132-1013-7, 0709-132-1014-5. Conrad Development LLC

Financial Information

Gross Income:$165,000

Total Expenses:$45,500

Net Op. Income:$119,500

Cap Rate:5.70%

Percent Leased:100%

Building Details

Building Type:Multi-Tenant

Building Status:Existing

Year Built:1900

Current Use:Multifamily

Number of Floors:2

Number of Units:7

Zoning:TRV1

Outside Parking:Yes

Outside Parking per 1,000 sf:1

Contact Listing Agent

WIlliam Butcher

(608) 345-1296

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