229 N Ludington Street, Columbus, WI 53925
Apartment building,Motel/Hotel/Bed & Brkfst,Office,Retail,Service
- Added:
- May 13, 2026
- Days on Market:
- 33
- Last Refresh:
- Jun 14 at 8:06 am
Property Features for 229 N Ludington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Apartment
- Zoning
- B-1
- Parking features
- Paved or Surfaced
- Standard status
- Active
- APN
- 11211 204
- Lot size
- 0.50 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 16213
Utilities
- Heating system
- Radiant
Building Details
- Year built
- 1868
- Floors in Building
- 2
- Number of units
- 5
- Building materials
- Brick
- Roof type
- Flat
- Architectural style
- Other
Listing agent Joanna Janas (608) 516-5534
Listing office Sprinkman Real Estate 622 W Washington Ave Ste 100, Madison, WI (608) 220-1453
Listing date May 13, 2026
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Multi‑family property with 4 sources of income, including a massage therapy business, single‑family home, & 3 apartments.
- Zoned residential, ideal for multi‑generational living or combining professional and personal spaces.
- Over 6,000 sq ft historic mansion on more than half an acre.
- Convenient location near downtown, Amtrak station, and major highways.
- Includes an attached 3‑car garage and a detached 2‑car garage, plus ample outdoor parking.
- Easily convertible to a single‑family home by reconfiguring internal partitions.
Overview
Set on more than half an acre, the property is positioned for convenience, with proximity to downtown and the Amtrak station and convenient access to major highways. The listing notes the property is zoned residential, which supports a range of living and operating arrangements.
For buyers seeking flexibility, the layout can potentially be transformed into a single-family home by reconfiguring several internal partitions, according to the current description. This combination of income uses and residential zoning may appeal to owner-occupants looking to combine professional space with rental income, as well as investors evaluating a multi-unit configuration with parking and garage capacity.
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 | $92.2k | $15.36 |
| − Vacancy | −$5.1k | −$0.84 |
| EGI | $87.1k | $14.52 |
| − OpEx | −$39.2k | −$6.53 |
| NOI | $47.9k | $7.98 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Columbia
- State
- Wisconsin
- Longitude
- -89.013457
- Latitude
- 43.339646
