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$3,900,000
28 Days On Site

1923 Sherman Avenue
Madison, WI 53704

For Sale|Multi Family|Active
8
Beds
4
Total Baths
4
Full Baths
1955
Built
County:
Dane
Listing courtesy of Ryan Schmitz of The Hub Realty
1923 Sherman Avenue1923 Sherman Avenue1923 Sherman Avenue1923 Sherman Avenue
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Monthly Payment (Est.)

$17,793
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This 26 unit, all brick, apt building has been with the same owner for the last 25 years! The property consists of 26 two bedroom apts with uniform floor plans. Current rents range from $1,075 (legacy tenants) to $1,350 (latest turn overs). Units should rent for $1,350+, as is, with just one turn over. Some updates include 2017 driveway/parking lot, 2016 new high efficiency boiler, 2023 new water softener, 2025 new water heater & stairwell carpet, 18 units have new flooring since 2020. $383K current annualized rent roll with clear path to $446K/year. Professionally managed (Prima) and operates efficiently at under $120K/year (2024) in operating expenses. Seller's property manager will be offering renewals for Jul & Aug shortly, so call today to control the future of this great property!

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Listing Snapshot
Price 
$3,900,000
Days On Site 
28 Days
Bedrooms 
8
Inside Area (SqFt) 
N/A
Total Baths 
4
Full Baths 
4
Partial Baths 
N/A
Lot Size 
0.917 Acres
Year Built 
1955
MLS® Number 
2000706
Status 
Active
Property Tax 
$42,303
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 weeks agoListing updated with changes from the MLS®
4 weeks agoListing first seen on site
General Features
Acres 
0.917
Parking Spaces 
30
Property Sub Type 
Multi Family
Sewer 
Public Sewer
Water Source 
Public
Interior Features
Appliances 
RefrigeratorWater Softener
Basement 
FinishedFullPartially Finished
Laundry Features 
Common Area
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Community Features
School District 
Madison
Schools
School District
Madison
Elementary School
Lapham/Marquette
Middle School
OKeeffe
High School
East
Listing courtesy of Ryan Schmitz of The Hub Realty



Listing information is provided by Participants of the South Central Wisconsin MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Information is supplied by seller and other third parties and has not been verified. Copyright 2025, South Central Wisconsin MLS Corporation. All rights reserved.
Last checked: 2025-06-25 12:48 AM UTC

Neighborhood & Commute
Source: Walkscore
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