Downtown 3-Unit Multifamily
14 North Franklin Street Madison, WI 53703
14 North Franklin Street, Madison, WI, 53703
$710,000
For Sale
$710,000
Well-maintained three-unit multifamily property with front and back decks and a new roof scheduled in late July.
Property Size3,192 SF
Price / SF$222.43
Days on Market14
Property Features for 14 North Franklin Street
General Information
- Standard status
- Active
- Size
- 3,192 SF
- Property subtype
- Multi Family / 3 story
Building Details
- Year Built
- 1912
Listing agency
Weichert, Realtors- Lakepoint
(608) 215-0945
Listed by
Jeffrey Cullen · License #84620-94
(608) 215-0945
Source
Compass
Added: Jul 10 Updated: Jul 21 at 6:36PM Checked: Jul 22 at 10:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Weichert, Realtors- Lakepoint
Investment Insights
Based on property information with market context.
This classic downtown 3-unit property is a well-maintained multifamily building featuring inviting front and back decks for resident use. The current roof is scheduled for replacement the week of 7/20, improving the building’s near-term exterior condition.
Located just blocks from Capitol Square and James Madison Park, the property provides convenient access to downtown dining, shopping, entertainment, and the lakefront.
Offered for sale as a residential income asset, the building provides a straightforward three-unit configuration intended for income generation.
Located just blocks from Capitol Square and James Madison Park, the property provides convenient access to downtown dining, shopping, entertainment, and the lakefront.
Offered for sale as a residential income asset, the building provides a straightforward three-unit configuration intended for income generation.
Key Highlights
- Well‑maintained three‑unit multifamily property with front and back decks
- New roof scheduled for late July; coming week of 7/20
- Full, poured concrete basement
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.2k | $19.80 |
| − Vacancy | −$2.8k | −$0.89 |
| EGI | $60.4k | $18.91 |
| − OpEx | −$18.1k | −$5.67 |
| NOI | $42.3k | $13.24 |
3,192 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$603.6K
$528.1K – $704.2K
NOI $42,250 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$559.3K
$489.4K – $652.6K
NOI $39,154 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$932.4K
$815.9K – $1.09M
NOI $65,270 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-unit multifamily property with front and back decks and a new roof scheduled in late July.
Where is this triplex located?
The property is located at 14 North Franklin Street Madison, WI.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Well‑maintained three‑unit multifamily property with front and back decks; New roof scheduled for late July; coming week of 7/20; Full, poured concrete basement
