31 North Madison Avenue
$225,000
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Description
Buy a home or buy an opportunity? This property is a dream come true for the one who appreciates investment opportunity. 6 apartments are currently rented, and a 7th apartment awaiting your unlimited imagination to design and finish! You can call the shots on how simple or luxurious you'd like to live in this one, or you can finish and have a 7th apartment to rent. This building is functioning in its current condition; however it could use quite a bit of TLC. Upgrades that have been accomplished...Buy a home or buy an opportunity? This property is a dream come true for the one who appreciates investment opportunity. 6 apartments are currently rented, and a 7th apartment awaiting your unlimited imagination to design and finish! You can call the shots on how simple or luxurious you'd like to live in this one, or you can finish and have a 7th apartment to rent. This building is functioning in its current condition; however it could use quite a bit of TLC. Upgrades that have been accomplished already include a new roof in 2019, apartment 1 (and a half) totally renovated in 2020, also exterior deck and stairs replaced in 2024 and upgraded to a covered porch. Buy this instead of a moderate single family home, of the same price, and after you finish renovations on the 7th apartment to your liking, you will enjoy a built in residual income for years to come. So, plan appropriately and you can live for free! Pretty smart. This property was at one time The Hanover Hotel, then it was converted into apartments in the 1970's and still serves as apartments. Current renters have leases that must be honored, expiring at different times. 3 of the occupants have lived here for 4 years.
- Listed by Nancy Horton • Guardian Realty, LLC • CallNancyHorton2Move@yahoo.com
Property Details for 31 North Madison Avenue
Architectural Style
Multi-Level
Subdivision NameMadison
TownshipHanover
WaterfrontNo
LISTING UPDATED: 11/27/2024 11:15 AM
Property Details for 31 North Madison Avenue
Status | Active |
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MLS # | 22011974 |
Days on Market | 38 |
Taxes | $589 semi-annually |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Fourplex |
Year Built | 1932 |
Lot Size | 0.73 AC / 31,798 SF |
County | Jefferson County |
Building Information for 31 North Madison Avenue
Stories-Residences7Year Built1932Building Size-Lot Size0.73 AC / 31,798 SF
Property Information for 31 North Madison Avenue
Property History for 31 North Madison Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 31 North Madison Avenue
Taxable ValueLand$8,500Additions$117,400Total$125,900
Tax Record2023$1,178 ($98 / month)
Home Facts
Baths1Total Finished SqFt5,379 SqFtAbove Grade Finished SqFt5,379 SqFtStories3Lot Size31,886 SqFtStyleMulti-Family Dwelling (2-4)Year Built1932CountyJEFFERSONAPN39-14-12-442-043.000-003
Schools near 31 North Madison Avenue
This home is within Southwestern-Jefferson County Con.
Rating | School | Type | Grades | Distance |
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Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 |
Rating | School | Distance |
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Southwestern Elementary School PublicPK to 5 | ||
Southwestern Middle School Public6 to 8 | ||
Southwestern Middle/Sr High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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