Linda Werner

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Listing provided courtesy of EXIT Realty HGM- MLS# 2023684MLS Provider

120-122 N Franklin StreetMadison, WI 53703

Multi-Family · 0.08 Acres
$1,670,000 Active

120-122 N Franklin Street Overview

Time on Site:
41 days
Visits:
5

120-122 N Franklin St is a rare opportunity to own a high-performing 3-flat investment property with an incredible 14 bedrooms in one of Madison's most desirable rental locations. Currently generating over $13,500/month in income with potential to exceed $14,500/month, this property offers immediate cash flow and strong upside potential. Located steps from James Madison Park, tenants love the oversized units, available parking, outdoor porches, and classic charm that make these apartments exceptionally easy to rent year after year. The property has been well maintained, including a newer boiler installation, making it an attractive option for investors seeking stability and long-term appreciation. Large unit sizes, premium location, and strong rental demand make this a truly rare Madison investment opportunity. The property is also being offered as part of the 120-126 N Franklin st portfolio. A rare side-by-side 27 bedroom opportunity with significant development potential.

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120-122 N Franklin Street Facts & Features

  • Type Multi-Family
  • Lot 0.08 Acres

Details

General

School Information

  • Elementary School: Lapham/Marquette
  • Middle Or Junior School: OKeeffe
  • High School: East

Building Information

  • Water/Waste: Municipal sewer, Municipal water
  • Year Built: 1909

Location/Region

  • County Or Parish: Dane
  • Location: MADISON - C E01
  • Postal City: Madison

Rent/Lease Information

  • Unit 2 Monthly Rent: $3,749.00
  • Unit 3 Monthly Rent: $4,749.00

Tax Information

  • Tax Annual Amount: $11,712.00
  • Tax Assessed Value: $726,300.00
  • Tax Year: 2024

General Information

  • Exclusions: Seller and tenant personal property
  • Inclusions: All appliances, washing machines, dryers, water heaters, water softeners, window coverings
  • Parcel Number: 0709-133-2125-7
  • Property Type: Multi Family
  • Sub-Type: 3 story
  • Zoning: DR1

Interior

Building Information

  • # Furnaces: 1
  • Heating Fuel: Natural Gas

Beds/Baths

  • Number of 2 Bedrooms: 0

Building Interior

  • # Stoves: 3
  • # Water Heaters: 1

General Information

  • Basement: Full, Unfinished

Unit Information

  • Unit 1 Monthly Rent: $4,149.00
  • Unit 2 Parking: 2 Space
  • Unit 3 Parking: 2 Space
  • Unit 1 Parking: 2 Space
  • Unit 1 # Bedrooms: 4
  • Unit 2 # Bedrooms: 4
  • Unit 3 # Bedrooms: 6
  • Unit 1 Full Baths: 2
  • Unit 1 Half Baths: 0
  • Unit 2 Full Baths: 2
  • Unit 2 Half Baths: 0
  • Unit 3 Full Baths: 3
  • Unit 3 Half Baths: 0
  • Unit 1 Primary Bedroom Level: M
  • Unit 1 Primary Bedroom Dimension: 12x13
  • Unit 1 Bedroom 2 Level: M
  • Unit 1 Bedroom 2 Dimension: 12x13
  • Unit 1 Bedroom 3 Level: M
  • Unit 1 Bedroom 3 Dimension: 10x9
  • Unit 1 Kitchen Level: M
  • Unit 1 Kitchen Dimension: 10x11
  • Unit 1 Living/Great Room Level: M
  • Unit 1 Living/Great Room Dimension: 10x10
  • Unit 1 Other Room: Bedroom
  • Unit 1 Other Room Level: M
  • Unit 1 Other Room Dimension: 13x9
  • Unit 1 Other Room 2: Family/Rec Room
  • Unit 1 Other Room 2 Level: M
  • Unit 1 Other Room 2 Dimension: 14x14
  • Unit 2 Primary Bedroom Level: M
  • Unit 2 Primary Bedroom Dimension: 13x14
  • Unit 2 Bedroom 2 Level: M
  • Unit 2 Bedroom 2 Dimension: 12x10
  • Unit 2 Bedroom 3 Level: M
  • Unit 2 Bedroom 3 Dimension: 10x9
  • Unit 2 Kitchen Level: M
  • Unit 2 Kitchen Dimension: 11x10
  • Unit 2 Living/Great Room Level: M
  • Unit 2 Living/Great Room Dimension: 14x15
  • Unit 2 Other Room: Bedroom
  • Unit 2 Other Room Level: M
  • Unit 2 Other Room Dimension: 14x9

Exterior

Parking Information

  • Parking Stalls Inside: 0

Building Exterior/Construction

  • Construction Materials: Vinyl

General Information

  • Number Of Units Total: 3

120-122 N Franklin Street Neighborhood

Community

53703 (Madison) Demographics

25
Median Age
19,375
Population Density (per sq. mile)
75%
College Educated
$42,153
Estimated Median Income
2,529
Estimated Total Home Owners
15,022
Estimated Total Renters
14% / 86%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

120-122 N Franklin Street Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

120-122 N Franklin Street Market Data

Based on the last 30 days in this zip code

$671,010
Average List Price
$477
Average Price per Square Foot
21
Properties Sold
50
Average Days on Market
59
Properties for Sale
Calculations provided by Reliance Network

120-122 N Franklin Street History

Date Event Value Agent
5/19/2026Source: South Central Wisconsin MLS Added to Database
May 19, 2026