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554 W Mifflin St 3 Unit Apartment Building $1,080,000 ($360,000/Unit) 8.36% Cap Rate Madison, WI 53703
Executive Summary
A student opportunity in downtown Madison, WI, this 3-unit, 9-bedroom is the closest house on Mifflin to campus with great southern light, full front decks, and rear exit decks. Each unit in this turn-key property is leased thru 08/2027 and offers a spacious and practical layout, including a full kitchen, three bedrooms, one bathroom, and a comfortable living area. Tenants appreciate the updated basement with storage and laundry. Additional income is generated through four on-site parking spaces. Tenants are responsible for electricity, garbage/recycling, cleaning, and snow removal. With gross income of $108,900 for 2026/2027 and several rents below market, a new buyer has the potential to earn an even greater return on their investment through future lease adjustments. Buyer broker fee available
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Property Facts
| Price | $1,080,000 | Property Subtype | Apartment |
| Price Per Unit | $360,000 | Building Class | C |
| Sale Type | Investment | Building Size | 2,580 SF |
| Cap Rate | 8.36% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.9 | No. Stories | 3 |
| No. Units | 3 | Year Built | 1904 |
| Property Type | Multifamily |
| Price | $1,080,000 |
| Price Per Unit | $360,000 |
| Sale Type | Investment |
| Cap Rate | 8.36% |
| Gross Rent Multiplier | 9.9 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Building Size | 2,580 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1904 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 3 | - | - |
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Exceptionally walkable
90/100
Somewhat drivable
30/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 0709-231-2426-1 | Improvements Assessment | $581,600 |
| Land Assessment | $84,800 | Total Assessment | $666,400 |
Property Taxes
Parcel Number
0709-231-2426-1
Land Assessment
$84,800
Improvements Assessment
$581,600
Total Assessment
$666,400
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554 W Mifflin St