Listing Agency: Haven Real Estate Partners

Listed By: Jonathan Poletti · License #5928790 Show Phone

Source: Madisonareahomelistings

Added: Aug 18 Changed: Oct 25 Last Checked: Oct 28 at 8:37AM

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Investment Insights

Based on property information with market context.

Bloom Apartments offers residences with GE appliances, gas ranges in one-, two-, and three-bedroom layouts, smart in-unit washers and dryers, and soft-close cabinetry. Community features include a fitness studio, fire pit, BBQ and picnic area, dog run, pet wash, refrigerated package lockers, storage lockers, trash chutes on every floor, and heated underground parking. An on-site BMO Bank branch adds another service to the property’s amenity package.

Located at 4607 Monona Dr in Monona, Wisconsin, the community combines apartment living with dedicated spaces for fitness, pets, deliveries, parking, and outdoor gatherings. Floorplans provide additional detail on individual unit layouts, while photos depict similar units and available finishes.

Key Highlights

• GE appliances and gas ranges in 1-, 2-, and 3‑bedroom apartments
• Smart in‑unit washers and dryers with soft‑close cabinetry
• Fitness studio, fire pit, BBQ and picnic area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,528

Suggested Prices Based on Cap Rates

Cap Rate 5%

$190,560 $190.6K

Cap Rate 7%

$136,114 $136.1K

Cap Rate 9%

$105,867 $105.9K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,181 SF

Gross rent

$18.1K $15.36/SF

− Vacancy

−$816 −$0.69/SF

EGI

$17.3K $14.67/SF

− OpEx

−$7.8K −$6.60/SF

NOI

$9.5K $8.07/SF

Area

Dane County, WI

Vacancy

4.50%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$190,560

Cap Rate 7%

$136,114

Cap Rate 9%

$105,867

Alternative Uses

Best Use

Apartment 5plus

$136.1K

$119.1K – $158.8K (±1% cap)

NOI $9,528 @ 7.0% cap · market cap 477.59%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$274.4K

$240.1K – $320.2K (±1% cap)

NOI $19,211 @ 7.0% cap · market cap 962.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Location Intelligence

Trade Area within ½ mile

375

Businesses Nearby

Explore this area Business Placement

Demographics for 53716, WI

19,105

Population

8,668

Households

2.2

Avg Household Size

43

Median Age

51%

College-Educated

96%

High-School Grad

6.3 sq mi

ZIP Area

3,033

Density / Sq Mi

$89,225

Median Household Income

$52,338

Median Earnings

$1,264

Median Rent

$325,400

Median Home Value

Similar For Sale Nearby

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Three-Story Office Building

6911 Mangrove Lane, Monona, WI 53713

$4,999,999

34,000 SF

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Retail Space in Monona Drive

6500 Monona Drive |, Monona, WI 53713

Contact for pricing

View details

Frequently Asked Questions

What type of property is this?

Residential income property - Apartment residences include GE appliances, gas ranges, smart laundry, and access to extensive resident amenities.

Where is this residential income property located?

The property is located at 4607 Monona Dr Monona, WI.

What are key features of this property?

This property features: GE appliances and gas ranges in 1-, 2-, and 3‑bedroom apartments; Smart in‑unit washers and dryers with soft‑close cabinetry; Fitness studio, fire pit, BBQ and picnic area