2-Bedroom Apartment Investment
1706 Onsgard Road Madison, WI 53704
1706 Onsgard Road, Madison, WI, 53704
$1,120,000
For Sale
$1,120,000
Multifamily offering functional 2-bedroom, 1-bathroom units, positioned near everyday retail and dining conveniences.
Property Size3,200 SF
Price / SF$350
Days on Market65
Property Features for 1706 Onsgard Road
General Information
- Standard status
- Active
- Size
- 3,200 SF
- Property subtype
- Multi Family / Apartment building
Building Details
- Year Built
- 1973
Listing agency
Patriot Properties
(608) 393-9540
Listed by
Chris Gantz · License #58594-90
(608) 393-9540
Source
Compass
Added: May 20 Updated: Jul 21 at 11:12AM Checked: Jul 22 at 10:47AM
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 Patriot Properties
Investment Insights
Based on property information with market context.
Freedom Park Apartments is a multifamily investment property featuring functional 2-bedroom, 1-bathroom unit layouts.
Located on Madison’s east side, the property is described as minutes from a range of neighborhood amenities and major retail, dining, and employment destinations, including Aldi, Target, East Towne Mall, Subway, and Wendy’s, along with other nearby services. The listing notes proximity to major transportation corridors.
The asset is presented as a residential income property with broad tenant appeal based on the practical unit configuration and its convenient access to surrounding conveniences.
Located on Madison’s east side, the property is described as minutes from a range of neighborhood amenities and major retail, dining, and employment destinations, including Aldi, Target, East Towne Mall, Subway, and Wendy’s, along with other nearby services. The listing notes proximity to major transportation corridors.
The asset is presented as a residential income property with broad tenant appeal based on the practical unit configuration and its convenient access to surrounding conveniences.
Key Highlights
- Freedom Park Apartments built in 1973 with vinyl and brick exterior
- Units offer a functional 2‑bedroom, 1‑bathroom layout
- Basement features a full, poured concrete foundation
Local Financial Insights For Apartment 5plus
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 | $74.5k | $23.28 |
| − Vacancy | −$3.1k | −$0.98 |
| EGI | $71.4k | $22.30 |
| − OpEx | −$32.1k | −$10.04 |
| NOI | $39.3k | $12.27 |
3,200 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$560.7K
$490.7K – $654.2K
NOI $39,252 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$934.8K
$817.9K – $1.09M
NOI $65,434 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Multifamily offering functional 2-bedroom, 1-bathroom units, positioned near everyday retail and dining conveniences.
Where is this residential income property located?
The property is located at 1706 Onsgard Road Madison, WI.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: Freedom Park Apartments built in 1973 with vinyl and brick exterior; Units offer a functional 2‑bedroom, 1‑bathroom layout; Basement features a full, poured concrete foundation
