219 South F Street, La Harpe, IL

17.38% return

SP: $399,900

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Property Description

CASH COW!!!

Beautiful 12 unit complex. 3 buildings. Each building has 4 x 2bed/1bath units. Property is in good shape. Separate electric meters and water. Low maintenance, baseboard heating, window a/c. Units rent for $600 each. WILL GENERATE A 17.38%+ NET RETURN ON INVESTMENT!!! $75K IN VALUE ADD!!!! Each building has a laundry room for more income. Do not miss out on this amazing opportunity!!!

Financing is available!

Property Information

Listing statusActive
Property typeMulti Family
Total units12
Total bedrooms24
Total bathrooms12
Building size10,296 sq. ft.
Lot size0.9 acres
Year built1996

CountyHancock County
SubdivisionLa Harpe
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingBaseboards
CoolingWindow A/C

Property Financial Summary

Sale price$399,900
Estimated rehab¹$5,000
Total investment$404,900

TypeProforma
After repair value$479,900
Potential profit$75,000

Gross income (annually)$90,000
Operating expenses (annually)$19,632
Net income (annually)$70,368
Gross return22.23%

Gross income (monthly)$7,500
Operating expenses (monthly)$1,636
Net income (monthly)$5,864
Net return17.38%

Property Income & ExpensesMonthlyAnnual

Income

Laundry Income$300/month$3,600/year
219
Unit A: 2 bed / 1 bath$600/month$7,200/year
Unit B: 2 bed / 1 bath$600/month$7,200/year
Unit C: 2 bed / 1 bath$600/month$7,200/year
Unit D: 2 bed / 1 bath$600/month$7,200/year
221
Unit A: 2 bed / 1 bath$600/month$7,200/year
Unit B: 2 bed / 1 bath$600/month$7,200/year
Unit C: 2 bed / 1 bath$600/month$7,200/year
Unit D: 2 bed / 1 bath$600/month$7,200/year
223
Unit A: 2 bed / 1 bath$600/month$7,200/year
Unit B: 2 bed / 1 bath$600/month$7,200/year
Unit C: 2 bed / 1 bath$600/month$7,200/year
Unit D: 2 bed / 1 bath$600/month$7,200/year
Total$7,500/month$90,000/year

Expenses

Property Taxes$364/month$4,368/year
Insurance$552/month$6,624/year
Lawn care$120/month$1,440/year
Maintenance reserve$500/month$6,000/year
Water and Sewer$50/month$600/year
Electric bill$50/month$600/year
Total$1,636/month$19,632/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.