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Great Deal on 4 Unit Rental Income Property
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Property Description |
Current Asking Price of $269,900 is way under market for a 4-unit building in the Madison area! This is an incredible deal for the right buyer!
4-Unit Tudor-style building, very reasonably priced and that's an understatement!
Built in 1980, this solid building has 4,200 square feet, with 1,050 square feet in each 2 bedroom apartment. Off-street parking is available in back.
2006 property taxes: $5,734.05. Each unit has a functional kitchen, spacious living and dining areas, back porch in the lower units, new balconies in upper units. Meters on furnace allows owner to either bill for heat or monitor heat usage. (Currently, tenants pay for heat in winter months.) Each tenant also pays their own MGE utility bill for electric used in apartment. All four units are currently rented with very stable tenants.
Current rents of $650 per month for each unit are slightly under-market, due to tenants paying for heat. Convenient stack washer/dryer in each unit – all dryers now vented to outside. Each unit has had numerous improvements, including new refrigerators and Project Home rental weatherization work done in 2006. Brand new roof installed due to 2006 hail damage in Madison area. Ample tenant and landlord storage areas in basement. Easy hatch-access to roof to clean gutters or for other roof maintenance. Convenient location, close to Verona Road, Design Mart, Cub Foods and Home Depot on Madison’s near west side! Building is well maintained with great appreciation and future earning potential.
Directions: Heading west on Beltline, take Verona Road exit south toward Verona, go past SuperAmerica gas station on corner of Raymond Road and Verona Road, take first left past gas station – you will see Nakoma Heights apartments straight ahead. Take right on Frontage Road, heading toward Design Mart. Bear left on Topper’s Lane, go all the way down to where you are behind the Design Mart. Turn left on Chalet Gardens Road. 2379 is 2nd 4-unit on your right.
Only 10 minutes from UW Hospital and Clinics, The University of Wisconsin-Madison! |
| Contact person: |
Tim Johnson |
| Seller Type: |
PrivateOwner |
| Phone: |
608-274-3461 |
| Email: |
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| Web Link: |
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| Listing Status: |
For Sale |
| Property Type: |
Fourplex |
| Price($): |
269,900 |
| Street Address: |
2379 Chalet Gardens Road |
| City: |
Madison |
| Region: |
Wisconsin |
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| Owner Finance: |
No |
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