Badger Apartments | 38U in Madison, WI 7 Multifamily Properties Offered at $4,500,000 in Madison, WI

Fully Occupied, Value-Add Multifamily Opportunity in Madison
Colliers is pleased to present the Badger Apartments Portfolio, a fully occupied, seven-property multifamily investment opportunity located in the high-demand West Madison submarket of Madison, Wisconsin. Comprising 38 total units, the portfolio offers a compelling blend of in-place cash flow, proven renovation upside, and strategic positioning near top employment and educational hubs.
Originally built between 1959 and 1962, the portfolio features a mix of one- and two-bedroom floor plans across properties located on West Badger Road. To date, 26 of the 38 units (68%) have been renovated, achieving an average rental premium of $133 per unit. With 12 classic units remaining, investors have a clear path to continue the existing value-add strategy and further enhance revenue potential.
The properties are ideally situated just 2.4 miles (8 minutes) from the University of Wisconsin–Madison and in close proximity to Lake Wingra, Nakoma Golf Club, and major roadways including Highways 18 and 151. This central location offers excellent connectivity to Downtown Madison and the region’s major employers, including the State of Wisconsin, UW–Madison, Epic Systems, and American Family Insurance.
Badger Apartments benefit from strong local market fundamentals. Within a 1-mile radius, 84% of residents are renters, well above state and national averages, while the daytime population exceeds the residential base by over 4,600, signaling robust job density and rental demand. Madison itself ranks as one of the tightest multifamily markets in the U.S., with a metro-wide vacancy rate of just 5.2% and annual rent growth of 2.5%. In West Madison, rent growth is even stronger at 3.3%, with limited new supply and an 18.8% inventory expansion over the past five years.
With stable occupancy, prime location, and demonstrated renovation premiums, the Badger Apartments Portfolio offers investors an attractive opportunity to acquire a stabilized, cash-flowing asset with built-in value- add upside in one of the Midwest’s most resilient multifamily markets.