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!
Closed
$3,600,000
1923 Sherman Avenue, Madison, WI 53704
--beds
--baths
--sqft
Multi Family, Apartment
Built in 1955
-- sqft lot
$3,600,100 Zestimate®
$--/sqft
$1,858 Estimated rent
Home value
$3,600,100
$3.42M - $3.78M
$1,858/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: November 20, 2025 at 01:08am
Listed by:
The Hub Team 608-556-4400,
The Hub Realty
Bought with:
Brent Huebner
Source: WIREX MLS,MLS#: 2000706
Originating MLS: South Central Wisconsin MLS
Originating MLS: South Central Wisconsin MLSFacts & features
Interior
Heating
- Natural Gas, Radiant/Electric
Features
- Basement: Full,Exposed,Partially Finished
- Has fireplace: No
Property
Parking
- Parking features: 1 Space, Outside
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.92 Acres
Details
- Parcel number: 070912103177
- Zoning: TR-V2
- Special conditions: Arms Length
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Brick
Condition
- 21+ Years
- New construction: No
- Year built: 1955
Utilities & green energy
- Electric: Separate Electric Meters
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Separate Electric Meters
Community & neighborhood
Location
- Region: Madison
- Municipality: Madison
Price history
| Date | Event | Price |
|---|---|---|
| 9/29/2025 | Sold | $3,600,000-5.3% |
Source:  WIREX MLS #2000706 | ||
| 7/1/2025 | Price change | $3,800,000-2.6% |
Source: WIREX MLS #2000706 | ||
| 5/27/2025 | Listed for sale | $3,900,000 |
Source: WIREX MLS #2000706 | ||
Public tax history
Tax history is unavailable.
Neighborhood: 53704
Nearby schools
GreatSchools rating
- 6/10Emerson Elementary SchoolGrades: PK-5Distance: 0.7 mi
- 2/10Sherman Middle SchoolGrades: 6-8Distance: 1.3 mi
- 8/10East High SchoolGrades: 9-12Distance: 0.6 mi
Schools provided by the listing agent
- Elementary: Lapham/Marquette
- Middle: Okeeffe
- High: East
- District: Madison
Source: WIREX MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$3,600,100
2% more+ $72,002
With Zillow Showcase(estimated)
$3,672,102