NOT LISTED FOR SALE

24 E Gorham St Madison, WI 53703

Downtown Madison Neighborhood

Estimated Value: $653,506 - $724,000

4 Beds
3 Baths
2,241 Sq Ft
$305/Sq Ft Est. Value

Last Sold September 17, 2021

Last sale price $520,000 $232 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $5,272/month

74 Days on Market

Highlights

  • Wood Flooring
  • Eat-In Kitchen
  • Family Room
  • Balcony
  • Property is near a bus stop
  • 1-minute walk to Period Garden Park

About This Home

As of September 2021

Rare opportunity to own adjacent income generating properties in downtown Madison. This investment property offers 2 stories of rental potential. First floor with 2-Efficiency units and 2nd/3rd floors with one 3-4 bedroom unit with amazing top floor open space. Located just blocks from the capitol square, state street, UW Madison and Lake Mendota this property is walking distance to everything Madison has to offer. Neighboring property sold separately. See MLS# 10910665, 1910669, 1901678 for full portfolio.

Last Agent to Sell the Property

Chas Martin

Sprinkman Real Estate License #57744-90 Listed on: 05/28/2021

Last Buyer's Agent

Tammy Krez

Stark Company, REALTORS License #53225-90

Stark Company, REALTORS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,051

Year Built

  • Built in 1893

Lot Details

  • 4,356

Home Design

  • Wood Siding

Interior Spaces

  • 2-Story Property
  • Family Room
  • Wood Flooring

Kitchen

  • Eat-In Kitchen
  • Oven or Range
  • Dishwasher

Laundry

  • Laundry in unit
  • Washer and Dryer

Basement

  • Basement Fills Entire Space Under The House
  • Shared Basement

Schools

  • Lapham/Marquette Elementary School
  • Okeeffe Middle School
  • East High School

Additional Features

  • Balcony
  • 4,356 Sq Ft Lot
  • Property is near a bus stop

Community Details

  • 3 Units
  • Laundry Facilities
  • Net Operating Income $15,101

Listing and Financial Details

  • Assessor Parcel Number 0709-144-0716-3

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,051

Year Built

Built in 1893

Lot Details

0

Listing Details

  • Municipality: Madison
  • Status Detail: Sold
  • Mailing City: Madison
  • Class: Multi Family
  • Type: Multi Family
  • Type Of Property: Apartment building, 2 story
  • Items Excluded: sellers'/tenants' personal belongings
  • Items Included: oven/ranges, refrigerators, dishwashers, A/C units, window coverings, washer, dryer
  • Miscellaneous: Shared laundry, Close to bus line
  • Year Built: 1893
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Number Dish Washers: 1
  • Number Dryers: 1
  • Number Washers: 1
  • Number Water Softeners: 1

Exterior Features

  • Exterior: Wood

Garage/Parking

  • Heating Fuel: Natural Gas

Utilities

  • Water Waste: Municipal water, Municipal sewer

Fee Information

  • Total Expenses: 25021

Schools

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

Lot Info

  • Estimated Aces: 0.1
  • Zoning: DR1-HIS-MH
  • Geo Subdivision: WI

Rental Info

  • Total Income: 40122

Tax Info

  • Net Taxes: 7051
  • Tax Year: 2020
  • Assessor Parcel Number: 0709-144-0716-3

Multi Family

  • Number Of3 Bedrooms: 1
  • Number Of Efficiencies: 2
  • Number Of Units: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 28, 2021
Closed on
Sep 17, 2021
Sold by
Christianson Ventures Llc
Bought by
Lubinsky Lori and Erlandson Andrew W
Seller's Agent
Chas Martin
Sprinkman Real Estate
Buyer's Agent
Tammy Krez
Stark Company, REALTORS
List Price
$525,000
Sold Price
$520,000
Premium/Discount to List
-$5,000
-0.95%
Current Estimated Value
$682,877

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$162,877
Avg. Annual Appreciation
6.57%
Original Mortgage
$416,000
Outstanding Balance
$377,964
Interest Rate
2.7%
Mortgage Type
New Conventional
Estimated Equity
$304,913

Purchase Details

Listed on
Nov 28, 2012
Closed on
Jan 30, 2013
Sold by
U S Bank National Association
Bought by
Christianson Ventures Llc
Seller's Agent
Art Luetke
Luetke Investment Real Estate
Buyer's Agent
Mark Gladue
Lauer Realty Group, Inc.
List Price
$239,000
Sold Price
$250,000
Premium/Discount to List
$11,000
4.6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.88%
Original Mortgage
$1,105,000
Interest Rate
3.3%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lubinsky Lori $520,000 Nations Title
Christianson Ventures Llc $250,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lubinsky Lori $416,000
Previous Owner Christianson Ventures Llc $1,105,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/17/2021 09/17/21 Sold $520,000 -1.0% $232 / Sq Ft
06/02/2021 06/02/21 For Sale $525,000 +1.0% $234 / Sq Ft
06/01/2021 06/01/21 Off Market $520,000 -- --
05/28/2021 05/28/21 For Sale $525,000 +110.0% $234 / Sq Ft
02/08/2013 02/08/13 Sold $250,000 +4.6% -- View Prior Sale
12/24/2012 12/24/12 Pending -- -- --
11/28/2012 11/28/12 For Sale $239,000 -- --
Source: South Central Wisconsin Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $20,322 $578,700 $146,100 $432,600
2023 $9,797 $540,800 $146,100 $394,700
2021 $7,654 $360,000 $139,100 $220,900
2020 $7,051 $313,000 $135,000 $178,000
2019 $6,745 $298,100 $142,300 $155,800
2018 $6,739 $298,100 $142,300 $155,800
2017 $7,056 $298,100 $142,300 $155,800
2016 $6,823 $283,900 $129,400 $154,500
2015 $6,469 $257,500 $129,400 $128,100
2014 $6,161 $257,500 $129,400 $128,100
2013 $6,277 $250,000 $122,100 $127,900
Source: Public Records

Agents Affiliated with this Home

  • Chas Martin

    Seller's Agent in 2021

    Chas Martin

    Sprinkman Real Estate

    (608) 334-9042

    23 in this area

    359 Total Sales

    Chas Martin
    Section Image
  • Tammy Krez

    Buyer's Agent in 2021

    Tammy Krez

    Stark Company, REALTORS

    (608) 220-9795

    4 in this area

    154 Total Sales

    Tammy Krez
    Section Image
  • Art Luetke

    Seller's Agent in 2013

    Art Luetke

    Luetke Investment Real Estate

    (608) 240-8840

    2 Total Sales

    Art Luetke
    Section Image
  • Mark Gladue

    Buyer's Agent in 2013

    Mark Gladue

    Lauer Realty Group, Inc.

    (608) 658-0467

    15 in this area

    205 Total Sales

    Mark Gladue
    Section Image
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Map

Source: South Central Wisconsin Multiple Listing Service

MLS Number: 1910665

South Central Wisconsin Multiple Listing Service

APN: 0709-144-0716-3

Wisconsin Dane County Madison 53703 Downtown Madison

24 E Gorham St, Madison, WI

Not Listed for Sale

MultiFamily

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