Madison Residences LLC is an investment in three stabilized, cash flowing rental townhome and duplex communities. These three communities are made up of 55 buildings, with 218-units, and are located within close proximity to each other in Madison, Wisconsin. With excellent access to recreation, transportation, employment centers and abundant high-quality retail, in addition to the nationally recognized University of Wisconsin – Madison, these communities are exceptionally well located.
All of the properties, built between 1985 and 2019, are located within a few mile radius of each other in Madison, except for seven duplexes constructed in 2019 that are in McFarland, WI, an area southeast of Madison where our operating partner is already operating another property. The units are broken up into 55 separate buildings in several locations, with nearly 25 different floorplans made up of all two- and three-bedroom units. Currently there are 172 two-bedroom units and 46 three-bedroom units across the entire portfolio. Two-bedroom units range from 960 square feet up to 2,000 square feet. Three-bedroom units range from 1,300 square feet to 2,000 square feet. Units feature attached garages, open floorplans, walk-in closets, forced air heat/cooling systems, and patios and/or decks. Additionally, many units currently feature fireplaces as well as washer/dryers. Collectively, these have been beautifully maintained by the previous owner and will only require cosmetic updates in most cases in early years of ownership.
Named by multiple publications as one of the best places to live in America, Madison has a population of nearly 260,000, with an average age of only 35 in the surrounding area with average household income of over $103,000. As home to both University of Wisconsin, as well at the capital of Wisconsin, Madison excels in nearly every category. The food scene is excellent, boasting both fine dining as well as casual bites. There is plenty of green space within the city and miles of lakefront, but it’s also within 50 miles of 21 state parks, forests and recreation areas. The medical industry is a large employer in the area due to Epic Systems Corp, UW Health, UnityPoint Health – Meriter and Dean Health Plan. American Family Insurance and the University are major employers as well.
These properties were purchased in January 2021.