Carrolton Apartments

818 South 6th Street, Carrollton, IL

11.04% return

SP: $759,900

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Property Description

GREAT INVESTMENT OPPORTUNITY!!!

16 units. 8 x 1bed/1bath and 8 x 2bed/1bath. These properties are perfect!!! New electric, new central heat and air units, newer roof, new metal staircases and list goes on. All work is done to the top standard. Excellent condition inside and out. Absolutely no deferred maintenance. Highest quality of construction. All concrete, including walls between units and stories. Long term and high quality tenants. Nicest property on the market today. Will generate a 11%+ NET RETURN ON INVESTMENT with NO SURPRISES!!! Room to increase rents for a higher return, units are under rented!!!

Do not miss out on this opportunity.

Property Information

Listing statusActive
Property typeMulti Family
Total units16
Total bedrooms24
Total bathrooms16
Building size14,000 sq. ft.
Lot size0.9 acres
Year built1988

CountyGreene County
Subdivision
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$759,900
Estimated rehab¹$0
Total investment$759,900

TypeProforma

Gross income (annually)$124,000
Operating expenses (annually)$40,073
Net income (annually)$83,927
Gross return16.32%

Gross income (monthly)$10,333
Operating expenses (monthly)$3,339
Net income (monthly)$6,994
Net return11.04%

Property Income & ExpensesMonthlyAnnual

Income

Laundry Income$333/month$4,000/year
Building A
Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$650/month$7,800/year
Unit 3: 2 bed / 1 bath$650/month$7,800/year
Unit 4: 2 bed / 1 bath$650/month$7,800/year
Unit 5: 2 bed / 1 bath$650/month$7,800/year
Unit 6: 2 bed / 1 bath$650/month$7,800/year
Unit 7: 2 bed / 1 bath$650/month$7,800/year
Unit 8: 2 bed / 1 bath$650/month$7,800/year
Building B
Unit 9: 1 bed / 1 bath$600/month$7,200/year
Unit 10: 1 bed / 1 bath$600/month$7,200/year
Unit 11: 1 bed / 1 bath$600/month$7,200/year
Unit 12: 1 bed / 1 bath$600/month$7,200/year
Unit 13: 1 bed / 1 bath$600/month$7,200/year
Unit 14: 1 bed / 1 bath$600/month$7,200/year
Unit 15: 1 bed / 1 bath$600/month$7,200/year
Unit 16: 1 bed / 1 bath$600/month$7,200/year
Total$10,333/month$124,000/year

Expenses

Property Taxes$1,229/month$14,752/year
Insurance$809/month$9,707/year
Water and Sewer$486/month$5,832/year
Electric bill$89/month$1,062/year
Lawn care$60/month$720/year
Maintenance reserve$667/month$8,000/year
Total$3,339/month$40,073/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.