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$ 175,000
Est. payment | /mo
4 Beds
4 Baths
6,534 Sqft Lot
$ 175,000
Est. payment | /mo
4 Beds
4 Baths
6,534 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12277252
Bedrooms 4
Full Baths 4
Annual Tax Amount $1,688
Tax Year 2023
Lot Size 6,534 Sqft
Lot Dimensions 60.5 X 112.5
Property Sub-Type Two to Four Units
Property Description
Excellent investment opportunity with this updated 4-unit property on S. 8th Street. This multi-family building offers a unique chance for an owner-occupant to live in one unit while generating rental income from the others, making it an ideal entry into real estate investing. Key features: * Potential Gross monthly rent of $2,050 ($24,600 / year) * 4 units, each with 1 bedroom and 1 bath * 3 units recently updated with modern plank flooring and fresh paint * 1 unit occupied by a long-term tenant * Garage (currently unrented) and off-street parking * Recent exterior improvements: tuckpointing and new paint * Separate electric & gas meters * 2 x month to month leases Perfect for first-time investors: * One vacant unit available for immediate owner occupancy * Option to lease vacancy to a non profit for $600 / month on 12 month lease * Collect rent from other tenants to offset mortgage costs * Gain valuable landlord experience while building equity * Excellent starting point for a rental property portfolio Additional benefits: * Down Payment Assistance available for eligible buyers * Potential for increased rental income by leasing the garage and signing new leases for at-will tenants. Great building for new or experienced investors. 'other' roof is Rolled 2 furnaces, 4 water heaters, both gas, Separate Electric Meters, Separate Gas Meters, HiSpd Intrnt Fiber Avail
Location
State IL
County Adams
Zoning COMMR
Rooms
Basement Partial
Interior
Heating Forced Air
Fireplace N
Exterior
Parking Features Detached
Garage Spaces 1.0
View Y/N true
Building
Water Public
New Construction false
Schools
Elementary Schools Lincoln-Douglas
High Schools Quincy
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Listed by Spencer Schelp • Swick Realty