Investment Overview

Marcus & Millichap is pleased to present Sunny Meade Apartments, an eight-unit multifamily community in the Capitol View Heights neighborhood on Madison’s south side. Aptly named for the sweeping views of the Wisconsin State Capitol, this hillside neighborhood is also home to Alliant Energy Center (Expo), Quann Community Gardens, and Quann Park, offering tenants a blend of urban convenience and natural beauty. Sunny Meade Apartments features spacious two-bedroom, one-bathroom floor plans, each approximately 812 square feet. Six of the eight units have been fully renovated, showcasing a comprehensive suite of upgrades including stainless-steel appliances (refrigerator, stove, and dishwasher), in-unit washers and dryers, new cabinetry and countertops, modern LVP or LVT flooring in the kitchens and dining areas, and resurfaced hardwood flooring in the living and bedroom spaces. Additional enhancements include updated trim, new doors, fresh paint, and window treatments. Renovations were completed between 2021 and 2025, with units 102 #1-102 #4 updated between 2021 and 2022, unit 106 #1 in April 2024, and unit 106 #3 in April 2025. The average renovation cost per unit totals approximately $16,700. Rental income potential is strong. Original units rent for $1,160 per month, with current asking rents at $1,205 per month. Renovated units offer rental rates between $1,350 and $1,385 per month, with current asking rents at the top of that range. The property is pet friendly, with tenants paying a $100 deposit and $40 monthly pet rent. Off-street parking is available for a one-time registration fee of $25. Each unit includes a wall-mounted air conditioning unit and a designated storage space. Select units offer private entries, patios, or balconies, further enhancing tenant appeal.