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For sale
  • $3,200,000

    120-126 N Franklin St, Madison, WI 53703

    17beds
    6,654sqft
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    Apartment
    Built in 1909
    -- sqft lot
    $2,878,900 Zestimate®
    $481/sqft
    $-- HOA

    What's special

    Rare opportunity to own the 120–126 N. Franklin St portfolio, a 6-unit, 27-bedroom side-by-side investment property in a premier rental location near James Madison Park. This exceptionally well-maintained portfolio offers strong in-place income, consistent tenant demand, and easy leasing year after year. The property currently generates $315,254 in annual income with pro forma projections of approximately $345,410 for the 2027–2028 lease term. Features include 12 off-street parking stalls, attractive unit layouts, and a proven occupancy history in one of Madison’s most competitive rental markets. Opportunities to acquire a congruent, turnkey 27-bedroom portfolio of this size, condition, and location are exceptionally rare. Excellent long-term appreciation, cash flow, and development upside make this a portfolio standout.
    62 days
    |
    300
    |
    16
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Imani Jones,

    EXIT Realty HGM

    Source: SCWMLS,MLS#: 2023686

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 17
      • Bathrooms: 8
      • Full bathrooms: 8
      Heating
      • Natural Gas, Other
      Features
      • Basement: Full
      Interior area
      • Total structure area: 6,654
      • Total interior livable area: 6,654 sqft

      Property

      Parking
      • Total spaces: 12
      • Parking features: Common
      • Details: Outside
      Features
      • Levels: One and One Half,Three Or More
      Lot
      • Size: 9,801 Square Feet
      Details
      • Parcel number: 070913321257
      • Zoning: DR1

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Apartment
      Materials
      • Vinyl Siding, Wood Siding
      Condition
      • Year built: 1909

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Location
      • Region: Madison

      Financial & listing details

      • Price per square foot: $481/sqft
      • Tax assessed value: $1,819,300
      • Annual tax amount: $33,941
      • Date on market: 5/19/2026
      • Inclusions: All appliances, washing machines, dryers, water heaters, water softeners, window coverings
      • Exclusions: Seller and Tenant Personal Property
      • Total actual rent: 168480

        Estimated market value

        $2,878,900

        $2.73M - $3.02M

        $2,857/mo

        Price history

        DateEventPrice
        5/19/2026Listed for sale$3,200,000+47.5%$481/sqft
        Source: WIREX MLS #2023686 Report a problem
        4/14/2023Sold$2,170,000$326/sqft
        Source: SCWMLS #1950000 Report a problem
        2/15/2023Pending sale$2,170,000$326/sqft
        Source: WIREX MLS #1950000 Report a problem
        2/10/2023Listed for sale$2,170,000$326/sqft
        Source: WIREX MLS #1950000 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: Capitol

        Getting around

        94 / 100
        Walker's Paradise
        57 / 100
        Good Transit
        93 / 100
        Biker's Paradise

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Lapham/Marquette
        • Middle: OKeeffe
        • High: East
        • District: Madison

        Source: SCWMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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