4638 Hayes Road, Madison, WI 53704

This fully leased 4-unit apartment building offers steady cash flow and well-maintained living spaces. Built in 1986, each of the four 2-bedroom, 1-bath units features a private 1-car garage and separate utility metering. The property is subject to an affordability covenant requiring all units be rented to low- to moderate-income households at or below 80% of area income limits, based on HUD?s Small Area Fair Market Rent (SAFMR) guidelines for Dane County, effective through October 2025. Roof replaced ? 2011, Energy efficiency improvements ? October 2022: Blower door test, Attic air sealing & additional insulation, Bathroom vent fans replaced.