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$ 1,080,000
Est. payment /mo
Price Dropped by $109K
554 W Mifflin Street Madison, WI 53703
2,178 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2023152
Year Built 1904
Annual Tax Amount $12,341
Tax Year 2025
Lot Size 2,178 Sqft
Acres 0.05
Property Description
An exceptional 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. Cap rate of 8.19% per seller.
Location
State WI
County Dane
Zoning Dr2
Rooms
Basement Full
Interior
Heating Natural Gas
Cooling Forced Air
Inclusions 3 refrigerators, 3 ranges, 1 dishwasher, washer, dryer
Exterior
Exterior Feature Vinyl
Utilities Available Separate Electric Meters
Building
Dwelling Type 3+ Story
Story 3 - 4
Sewer Municipal Water, Municipal Sewer
New Construction N
Schools
Elementary Schools Franklin/Randall
Middle Schools Hamilton
High Schools West
School District Madison
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