Madison, WI 53703,515 N Pinckney Street
Madison, WI 53703,515 N Pinckney Street
Madison, WI 53703,515 N Pinckney Street
Madison, WI 53703,515 N Pinckney Street
Madison, WI 53703,515 N Pinckney Street
Madison, WI 53703,515 N Pinckney Street
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Listed by LPT Realty
$ 1,149,000

3 Beds

4 Baths

1,995 SqFt


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$ 1,149,000
Save

3 Beds

4 Baths

1,995 SqFt

Key Details

Property Type Multi-Family

Sub Type Apartment building,3 story

Listing Status Active

Purchase Type For Rent

Square Footage 1,995 sqft

MLS Listing ID 2008173

Bedrooms 3

Full Baths 4

Year Built 1914

Annual Tax Amount $16,168

Tax Year 2024

Lot Size 4,356 Sqft

Acres 0.1

Property Sub-Type Apartment building,3 story

Property Description

Exceptional investment opportunity in Madison's coveted Mansion Hill. This 7-unit apartment building features original hardwood floors, balconies, and thoughtfully designed layouts. Located steps from UW-Madison, the State Capitol, and Lake Mendota, it offers strong tenant demand and low vacancies in a high-growth rental market. Current below-market rents offer immediate cash flow with significant upside through strategic adjustments. Further value-add potential includes monetizing the detached garage for parking/storage. With robust 10% annual rent growth and limited supply of historic properties, this asset promises stable returns and long-term appreciation. Fully leased through July 2026 with $112k annual gross income.

Location

State WI

County Dane

Area Madison - C W01

Zoning DR1 HIS-MH

Direction E. Gorham St. to Norht (rt.) on N. Pinckney toward Lake Mendota

Rooms

Basement Full, Walkout to yard, Finished, Poured concrete foundatn

Interior

Heating Radiant

Inclusions 7 refrigerators; 7 stoves; 1 washing machine; 1 dryer

Heat Source Natural Gas

Exterior

Parking Features 1 stall garage, Detached, Outside

Waterfront Description Waterview-No frontage

Building

Water Municipal sewer, Municipal water

Structure Type Wood,Brick,Stucco

Schools

Elementary Schools Lapham/Marquette

Middle Schools Okeeffe

High Schools East

School District Madison

South Central Wisconsin MLS (SCWMLS)

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EXIT Unlimited
EXIT Unlimited

Brokerage | License ID: T06463000

+1(563) 231-7738

1200 Cedar Cross Rd, Dubuque, Iowa, 52003, USA

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515 N Pinckney Street