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Listed by Krystal Hudsonof EJC REAL ESTATE SERVICES
$ 469,900
Est. payment /mo
Active Under Contract
741 Elgin Street Cherry Valley, IL 61016
0.34 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12571125
Year Built 1960
Annual Tax Amount $6,695
Tax Year 2024
Lot Size 0.340 Acres
Lot Dimensions 14810
Property Sub-Type Multi Family 5+
Property Description
Excellent investment opportunity with this 6-unit multifamily property featuring a strong rental history and solid long-term tenants in place. The building includes a mix of 4 one-bedroom units and 2 two-bedroom units, currently generating approximately $4,500 in total monthly rent with potential for future rent increases. Several units have seen recent updates, including new vinyl flooring and carpeting in 4 of the units within the last 1-3 years, while the remaining units offer hardwood and older finishes. Bathrooms have had updated fixtures and replaced toilets, and all units remain functional and well-maintained. The property offers separate entrances for most units, off-street parking, and a basement area with utility meters and additional storage. All units are electric with baseboard heat, and the building has no known electrical, plumbing, or foundation issues. A great opportunity for investors seeking stable cash flow with upside potential.
Location
State IL
County Winnebago
Zoning MULTI
Interior
Fireplace N
Exterior
View Y/N true
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