Description
Portfolio Sale with the following addresses: 1212 Vilas Ave., 423-425 W. Dayton, 1615 Jefferson St., 1608 Madison St., 410-412 W. Mifflin, 616-618 S. Mills. Amazing opportunity to grab a foothold in the Madison multifamily market. Six non-contiguous properties for sale as a portfolio, totaling 16 units. Units attract a variety of undergrads, grad students, and professionals that want to be close to campus, downtown and nearby employers. Easy to find tenants, the properties are fully leased through August 2024. Several newer mechanicals and appliances. Some parking spots leased separately. Upside potential with football game parking and some below market rate rents. Current monthly income of $25,200 excludes coin op W&D dryer income. Rents increase to $26,115 later this year.
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School Information
Description
Portfolio Sale with the following addresses: 1212 Vilas Ave., 423-425 W. Dayton, 1615 Jefferson St., 1608 Madison St., 410-412 W. Mifflin, 616-618 S. Mills. Amazing opportunity to grab a foothold in the Madison multifamily market. Six non-contiguous properties for sale as a portfolio, totaling 16 units. Units attract a variety of undergrads, grad students, and professionals that want to be close to campus, downtown and nearby employers. Easy to find tenants, the properties are fully leased through August 2024. Several newer mechanicals and appliances. Some parking spots leased separately. Upside potential with football game parking and some below market rate rents. Current monthly income of $25,200 excludes coin op W&D dryer income. Rents increase to $26,115 later this year.
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