*** ********* ***, ********, IL

15.50% return

SP: $325,000

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Property Description

Awesome 10 unit complex!!!

High quality construction. Separate electric and water meters, tenants pay all utilities. Each unit has washer and dryer hookups, as well as dishwashers. 5 x 1bed/1bath and 5 x 2bed/1bath units. 1beds will rent for $600+ and 2beds will rent for $750+. Great location, minutes away from Southern Illinois University. Do not miss out on this opportunity. Building will generate a 15% NET RETURN ON INVESTMENT!! $65K VALUE ADD POTENTIAL!!!

Financing and professional management is available.

Property Information

Listing statusActive
Property typeMulti Family
Total units10
Total bedrooms15
Total bathrooms10
Building size7,308 sq. ft.
Lot size0.4 acres
Year built1988

County******** County
Subdivision********** *********
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingBaseboards
CoolingWall A/C

Property Financial Summary

Sale price$325,000
Estimated rehab¹$15,000
Total investment$340,000

TypeProforma
After repair value$400,000
Potential profit$60,000

Gross income (annually)$81,000
Operating expenses (annually)$28,288
Net income (annually)$52,712
Gross return23.82%

Gross income (monthly)$6,750
Operating expenses (monthly)$2,357
Net income (monthly)$4,393
Net return15.50%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$750/month$9,000/year
Unit 2: 1 bed / 1 bath$600/month$7,200/year
Unit 3: 1 bed / 1 bath$600/month$7,200/year
Unit 4: 2 bed / 1 bath$750/month$9,000/year
Unit 5: 2 bed / 1 bath$750/month$9,000/year
Unit 6: 1 bed / 1 bath$600/month$7,200/year
Unit 7: 1 bed / 1 bath$600/month$7,200/year
Unit 8: 2 bed / 1 bath$750/month$9,000/year
Unit 9: 1 bed / 1 bath$600/month$7,200/year
Unit 10: 2 bed / 1 bath$750/month$9,000/year
Total$6,750/month$81,000/year

Expenses

Property Taxes$972/month$11,668/year
Insurance (estimated)$333/month$4,000/year
Maintenance reserve$833/month$10,000/year
Lawn care$60/month$720/year
Waste Collection$158/month$1,900/year
Total$2,357/month$28,288/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.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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