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$3,600,000

  • Sold
  • Closed
  • Apartment
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This 26 unit, all brick, apt building has been with the same owner for the last 25 years! The property consists of 26 two bedroom apts with uniform floor plans. Current rents range from $1,075 (legacy tenants) to $1,350 (latest turn overs). Units should rent for $1,350+, as is, with just one turn over. Some updates include 2017 driveway/parking lot, 2016 new high efficiency boiler, 2023 new water softener, 2025 new water heater & stairwell carpet, 18 units have new flooring since 2020. $383K current annualized rent roll with clear path to $446K/year. Professionally managed (Prima) and operates efficiently at under $120K/year (2024) in operating expenses. Seller's property manager will be offering renewals for Jul & Aug shortly, so call today to control the future of this great property!

Full Property Details for 1923 Sherman Ave

General

  • Sold For: $3,600,000
  • Taxes: $42,303 (2024)
  • Status: Closed
  • Type: Apartment
  • Source: Wirex_South_Central_Wisconsin_MLS_Corporation_SCW
  • MLS ID: 2000706
  • Added to Site: 234 day(s) ago

Parking

  • Parking Features: 1 Space, Outside

Location

  • Municipality: Madison
  • County: Dane
  • Driving Directions: East on East Gorham, Left on Sherman Ave, Right into Property

School Information

  • School District: Madison
  • Elementary School: Lapham/Marquette
  • Middle School: Okeeffe
  • High School: East

Heating & Cooling

  • Heating Fuel: Natural Gas
  • Heating/Cooling: Radiant/Electric

Utilities

  • Water/Sewer: Municipal Water, Municipal Sewer
  • Utility Description: Separate Electric Meters

Structural Information

  • Description/Design: Apartment Building, 2 Stories
  • Exterior Const.: Brick
  • Basement Desc.: Full, Exposed, Full-Size Windows, Partially Finished
  • Year Built: 1955

Unit Information

  • Units in Building: 26

Unit 1

  • Square Feet: 840
  • Bedrooms: 2

Unit 2

  • Square Feet: 750
  • Bedrooms: 2

Unit 3

  • Bedrooms: 2

Unit 4

  • Bedrooms: 2

Lot Features

  • Lot Size Source: Assessor/Public Record
  • Zoning: TR-V2

Financial Considerations

  • Tax Amount: $42,303
  • Tax Year: 2024

Disclosures and Reports

  • Exclusions: Tenant's personal property, 3 washers (revenue share), 3 dryers (revenue share)
  • Inclusions: 26 refrigerators, 26 oven/ranges, 26 in wall A/C's, water heaters, water softener, boiler, fitness equipment.

Listed by The Hub Realty
Sold by Huebner Properties LLC

Listing agent

— 1923 Sherman Ave —

  • The Hub Realty

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1923 Sherman Ave

School District:Madison Metropolitan School District
NameGradesDistance
Emerson Elementary School, Madison, WI
2421 East Johnson Street, Madison, WI 53704
PK-50.7 mi
Sherman Middle School
1610 Ruskin Street, Madison, WI 53704
6-81.3 mi
East High School, Madison, WI
2222 East Washington Avenue, Madison, WI 53704
9-120.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1923 Sherman Ave

Date
Details
Price
Change
Source
9/29/2025
Sold
$3,600,000
-5.26%
MLS
7/01/2025
Price Reduced
$3,800,000
-2.56%
MLS
5/27/2025
Listed
$3,900,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by The Hub Realty
Sold by Huebner Properties LLC

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1923 Sherman Avenue, Madison, WI 53704 (MLS# 2000706) is a Apartment property that was sold at $3,600,000 on September 29, 2025. Want to learn more about 1923 Sherman Avenue? Do you have questions about finding other Apartment real estate for sale in Madison? You can browse all Madison real estate or contact a Coldwell Banker agent to request more information.