Welcome to the multifamily redevelopment opportunity in Downtown Madison, Wisconsin, the state capital.
The portfolio site totals 0.48 acres among three parcels/ buildings. 116 E Johnson Street consists of a 3,106-square-foot residential income duplex, 122 E Johnson Street consists of a 1,760-square-foot dental office building, and 128 E Johnson Street consists of a 5,000-square-foot, two-story, multifamily building. The highest and best use is redevelopment to a 45+ unit apartment, provided the City of Madison grants all required approvals, with good cash flow in the meantime.
Student housing and renter demand are prevalent in Downtown Madison, home to the University of Wisconsin–Madison, a public, four-year institution with a full-time student population of more than 46,000. The university has a dormitory capacity of about 8,900 beds, leaving the balance of full-time students to search for off-campus housing. The university draws in many residents for its college sports and top-notch educational opportunities. Between the Badgers basketball and hockey games at the Kohl Center, the Badgers football Games at Camp Randall Coliseum, and all kinds of entertainment options like the University of Wisconsin-Madison Arboretum, a major natural attraction in the city, Madison remains a thriving and lively city.
Please note: the seller prefers to sell all 3 properties together, but will consider proposals to split them - a great opportunity for an exciting redevelopment project near Capitol Square.