NOT LISTED FOR SALE

509 E Gorham St Madison, WI 53703

Downtown Madison Neighborhood

Estimated Value: $471,000 - $2,240,661

4 Beds
2 Baths
3,431 Sq Ft
$331/Sq Ft Est. Value

Sale Details

Date Sold: October 21, 2024

Last sale price $3,400,000 $991 Per Sq Ft

Current estimated payment $6,776 / mo

10 Days on Market

Highlights

  • 0.65 Acre Lot
  • Forced Air Heating System
  • 1-minute walk to James Madison Park

About This Home

As of October 2024

Once in a generation opportunity to secure 7 adjacent buildings on the Isthmus!!! 7 properties, 15 units & a total of 36 bedrooms. These properties are all fully leased through 8/14/2025 and are professionally managed by Birwood Property Management. Two properties overlook James Madison Park & Lake Mendota. All 7 properties are contiguous, allowing for ultimate flexibility on parking and efficient maintenance, lawn and snow care. These are being offered as a package, so please be prepared to submit an offer on all 7 properties prior to scheduling any showings. Market rents should be an average of ~$850-900/bedroom + parking + utility income + laundry.

Last Agent to Sell the Property

The Hub Team

The Hub Realty Listed on: 08/27/2024

Last Buyer's Agent

The Hub Team

The Hub Realty Listed on: 08/27/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $51,458

Year Built

  • Built in 1890

Lot Details

  • 0.65

Parking

  • 8 Open Parking Spaces
  • 2 Covered Spaces

Schools

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

Additional Features

  • Basement Fills Entire Space Under The House
  • 28,183 Sq Ft Lot
  • Forced Air Heating System

Community Details

  • 15 Units

Listing and Financial Details

  • Assessor Parcel Number 070913313048

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$51,458

Year Built

Built in 1890

Lot Details

0.65 Acres

Listing Details

  • Municipality: Madison
  • Status Detail: Sold
  • Mailing City: Madison
  • Class: Multi Family
  • Type: Multi Family
  • Type Of Property: Apartment building
  • Items Excluded: Tenant's and Property Managers' personal property
  • Items Included: On site, seller owned, appliances, HVAC, water heaters, water softeners
  • Year Built: 1890
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Number Dryers: 7
  • Number Units W Ac: 11
  • Number Washers: 7
  • Number Water Softeners: 7

Garage/Parking

  • Heating Fuel: Natural Gas
  • Heating Type: Forced air
  • Parking Stalls Inside: 2
  • Parking Stalls Outside: 8

Utilities

  • Water Waste: Municipal water, Municipal sewer
  • Park Unit: 1 space

Schools

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

Lot Info

  • Estimated Aces: 0.647
  • Zoning: DR1
  • Geo Subdivision: WI

Tax Info

  • Net Taxes: 51458
  • Tax Year: 2023
  • Assessor Parcel Number: 070913313048

Multi Family

  • Number Of1 Bedrooms: 5
  • Number Of2 Bedrooms: 1
  • Number Of3 Bedrooms: 7
  • Number Of Efficiencies: 2
  • Number Of Units: 15

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 27, 2026
Sold by
Bought by
Current Estimated Value
$1,135,220

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,720,000
Outstanding Balance
$2,720,000
Interest Rate
6.06%
Mortgage Type
New Conventional
Estimated Equity
-$1,584,780

Purchase Details

Listed on
Aug 27, 2024
Closed on
Oct 21, 2024
Sold by
Bought by
Seller's Agent
The Hub Team
The Hub Realty
Buyer's Agent
The Hub Team
The Hub Realty
List Price
$3,400,000
Sold Price
$3,400,000
Views
57

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-48.15%

Purchase Details

Closed on
Sep 30, 2008
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,400,000 Knight Barry Title
$3,400,000 First American Title
-- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $2,720,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
10/21/2024 10/21/24 Sold $3,400,000 0.0% $991 / Sq Ft
09/06/2024 09/06/24 Pending -- -- --
08/27/2024 08/27/24 For Sale $3,400,000 -- $991 / Sq Ft
Source: South Central Wisconsin Multiple Listing Service

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $7,879 $427,200 $109,900 $317,300
2024 $13,585 $388,400 $109,900 $278,500
2023 $6,485 $359,600 $109,900 $249,700
2022 $13,273 $339,200 $109,900 $229,300
2021 $6,545 $308,400 $109,900 $198,500
2020 $6,648 $299,400 $106,700 $192,700
2019 $6,675 $299,400 $92,000 $207,400
2018 $5,541 $249,500 $76,700 $172,800
2017 $5,742 $249,500 $76,700 $172,800
2016 $5,357 $226,800 $69,700 $157,100
2015 $5,413 $226,800 $69,700 $157,100
2014 $5,417 $226,800 $69,700 $157,100
2013 $4,854 $214,000 $65,800 $148,200
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2024

    The Hub Team

    The Hub Realty

    (608) 556-4400

    23 in this area

    298 Total Sales

    The Hub Team
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Map

Source: South Central Wisconsin Multiple Listing Service

MLS Number: 1984626

South Central Wisconsin Multiple Listing Service

APN: 0709-133-1304-8

Wisconsin Dane County Madison 53703 Downtown Madison

509 E Gorham St, Madison, WI

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South Central Wisconsin Multiple Listing Service IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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