2027 Cleveland Boulevard, Granite City, IL
16.44% return
SP:
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Property Description

TURNKEY INVESTMENT!!! 

Duplex and quadplex on one parcel, total of 6 units. Great condition. No deferred maintenance needed. Professionally managed. Will generate a 16%+ NET RETURN ON INVESTMENT!!! 20 minutes away from St Louis International Airport. 

Financing is available!!! 

Property Information

  • Listing statusPending
  • Property typeMulti Family
  • Total units6
  • Total bedrooms7
  • Total bathrooms6
  • Building size3696 sq. ft.
  • Lot size0.1 acres
  • Year built1900
  • CountyMadison County
  • Subdivision
  • ConstructionBrick, Frame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingGas Furnace
  • CoolingWall A/C

Property Financial Summary

  • Sale price$179,900
  • Estimated rehab1$0
  • Total investment$179,900
  • TypeProforma
  • Gross income (annually)$42,600
  • Operating expenses (annually)$13,018
  • Net income (annually)$29,582
  • Gross return23.68%
  • Gross income (monthly)$3,550
  • Operating expenses (monthly)$1,085
  • Net income (monthly)$2,465
  • Net return16.44%

Property Income & Expenses

  • Income
  • Duplex
  • Unit Front-A: 1 bed / 1 bath$625/month$7,500/year
  • Unit Front-B: 2 bed / 1 bath$625/month$7,500/year
  • Quadplex
  • Unit Back-A: 1 bed / 1 bath$575/month$6,900/year
  • Unit Back-B: 1 bed / 1 bath$575/month$6,900/year
  • Unit Back-C: 1 bed / 1 bath$575/month$6,900/year
  • Unit Back-D: 1 bed / 1 bath$575/month$6,900/year
  • Total$3,550/month$42,600/year
  • Expenses
  • Property Taxes$198/month$2,370/year
  • Insurance (estimated)$308/month$3,696/year
  • Waste Collection$46/month$552/year
  • Water and Sewer$200/month$2,400/year
  • Maintenance reserve$333/month$4,000/year
  • Total$1,085/month$13,018/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.

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