Exceptional investment opportunity in Madison?s coveted Mansion Hill. This 7-unit apartment building features original hardwood floors, balconies, and thoughtfully designed layouts. Located steps from UW-Madison, the State Capitol, and Lake Mendota, it offers strong tenant demand and low vacancies in a high-growth rental market. Current below-market rents offer immediate cash flow with significant upside through strategic adjustments. Further value-add potential includes monetizing the detached garage for parking/storage. With robust 10% annual rent growth and limited supply of historic properties, this asset promises stable returns and long-term appreciation. Fully leased through July 2026 with $112k annual gross income.
Closed
$1,070,000
515 North Pinckney Street, Madison, WI 53703
--beds
--baths
--sqft
Multi Family, Apartment
Built in 1914
-- sqft lot
$1,104,600 Zestimate®
$--/sqft
$2,984 Estimated rent
Home value
$1,104,600
$1.04M - $1.17M
$2,984/mo
Zestimate® history
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$5,843/mo
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Zillow last checked: 7 hours ago
Listing updated: November 15, 2025 at 08:05am
Listed by:
Tim Flores 608-579-3033,
LPT Realty,
Chris Martinez 608-470-7697,
LPT Realty
Bought with:
Jeffrey Cullen
Source: WIREX MLS,MLS#: 2008173
Originating MLS: South Central Wisconsin MLS
Originating MLS: South Central Wisconsin MLSFacts & features
Interior
Heating
- Natural Gas, Radiant/Electric
Appliances
- Included: Water Softener
Features
- Basement: Full,Walk-Out Access,Finished,Concrete
- Has fireplace: No
Property
Parking
- Total spaces: 1
- Parking features: 1 Car, Detached, Outside
- Garage spaces: 1
Features
- Levels: Three Or More
- Stories: 3
- Has view: Yes
- Has water view: Yes
Lot
- Size: 4,356 sqft
Details
- Parcel number: 070914402072
- Zoning: DR1 HIS-MH
- Special conditions: Arms Length
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Wood Siding, Brick, Stucco
Condition
- 21+ Years
- New construction: No
- Year built: 1914
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Madison
- Municipality: Madison
Other
Other facts
- Listing terms: Exchange
Price history
| Date | Event | Price |
|---|---|---|
| 11/5/2025 | Sold | $1,070,000-6.9% |
Source:  WIREX MLS #2008173 Report a problem | ||
| 10/1/2025 | Pending sale | $1,149,000 |
Source: WIREX MLS #2008173 Report a problem | ||
| 9/5/2025 | Listed for sale | $1,149,000-0.1% |
Source: WIREX MLS #2008173 Report a problem | ||
| 7/5/2025 | Listing removed | $1,150,000 |
Source: WIREX MLS #2001470 Report a problem | ||
| 6/5/2025 | Listed for sale | $1,150,000-4.1% |
Source: WIREX MLS #2001470 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $17,970 +37.2% | $918,000 +41.2% |
| 2023 | $13,096 | $650,000 -5% |
| 2022 | -- | $684,000 +5.1% |
Find assessor info on the county website
Neighborhood: Capitol
Nearby schools
GreatSchools rating
- NALapham Elementary SchoolGrades: PK-2Distance: 0.9 mi
- 8/10O'keeffe Middle SchoolGrades: 6-8Distance: 1.6 mi
- 8/10East High SchoolGrades: 9-12Distance: 2.1 mi
Schools provided by the listing agent
- Elementary: Lapham/Marquette
- Middle: Okeeffe
- High: East
- District: Madison
Source: WIREX MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$1,104,600
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,104,600
- Wisconsin
- Dane County
- Madison
- 53703
- Capitol
- 515 North Pinckney Street