WI > Madison
Madison, WI 53703,515 N Pinckney Street
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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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Bridget Horstmann

Bridget Horstmann

+1(920) 210-2628
Listed by LPT Realty
$ 1,149,000
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515 N Pinckney Street Madison, WI 53703

3 Beds

4 Baths

1,995 SqFt

UPDATED:

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)
This information, provided by seller, listing broker, and other parties, may not have been verified.
Copyright 2025 South Central Wisconsin MLS Corporation. All rights reserved
Bridget Horstmann

Bridget Horstmann

Agent

+1(920) 210-2628

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515 N Pinckney Street