515 N Pinckney Street Active Save Request In-Person Tour Request Virtual Tour
Madison,WI 53703
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality MADISON
MLS Listing ID 2008173
Year Built 1914
Annual Tax Amount $16,168
Tax Year 2024
Lot Size 4,356 Sqft
Acres 0.1
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
Zoning DR1 HIS-MH
Rooms
Basement Full,Walk Out/Outer Door,Finished,Poured Concrete
Interior
Interior Features Water Softener
Heating Natural Gas
Cooling Radiant/Electric
Inclusions 7 refrigerators; 7 stoves; 1 washing machine; 1 dryer
Exterior
Exterior Feature Wood,Brick,Stucco
Parking Features 1 Car,Detached
Garage Spaces 1.0
Waterfront Description Waterview-No frontage
Building
Dwelling Type Apartment Building,3+ Story
Story 3 - 4
Sewer Municipal Water,Municipal Sewer
New Construction N
Schools
Elementary Schools Lapham/Marquette
Middle Schools Okeeffe
High Schools East
School District Madison
Others
Acceptable Financing Exchange
Listing Terms Exchange