229 N Ludington Street, Columbus, WI 53925
MULTI_FAMILY - Columbus, WI
- Added:
- May 12, 2026
- Days on Market:
- 32
- Last Refresh:
- Jun 12 at 3:06 am
Property Features for 229 N Ludington Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B-1
- Parking features
- Garage
- Appliances
- 3
- Standard status
- Active
- APN
- 11211 204
- Lot size
- 0.53 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
Listing agent Joanna Janas (608) 516-5534
Listing office Sprinkman Real Estate 622 W Washington Ave Ste 100, Madison, WI (608) 467-9596
Listing date May 12, 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
- Over 6,000 sq ft historic brick mansion built in 1868
- Zoned residential with 4 sources of income: massage therapy business, a single‑family home, and 3 rental apartments
- 4‑bedroom layout plus basement
- Radiant heating and dishwasher and dryer included
- Parking includes an attached 3‑car garage, detached 2‑car garage, and ample outdoor parking
- Situated on more than half an acre near downtown, the Amtrak station, and with convenient access to major highways
Overview
Located in Columbus, WI, the property is positioned near downtown and the Amtrak station, with convenient access to major highways. The combination of mixed-use setup and surrounding accessibility supports a range of ownership and operating strategies.
For buyers seeking turnkey income, the existing multi-unit and massage therapy setup provides an immediate foundation. For those looking to reposition the asset, the property can be transformed into a single-family home by reconfiguring internal partitions, leveraging its substantial layout and parking for a more private residential use. The flexible design and scale make it well-suited to multi-generational living concepts or an owner-operator plan that blends professional and personal space.
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
