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Listed by Jon Fisherof MR. LANDMAN
$450,000
Est. payment /mo
0.64 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 12665610
Year Built 2006
Annual Tax Amount $12,660
Tax Year 2024
Lot Size 0.640 Acres
Lot Dimensions 172 x 162
Property Sub-Type Multi Family 5+
Property Description
This 10-unit multifamily investment opportunity is located just blocks from Western Illinois University in Macomb and currently serves a mix of both student and young professional tenants. With strong rental demand generated by WIU and surrounding employers, the property offers investors stable cash flow and long-term upside potential. The property consists of the following unit mix: * 7) Three Bedroom / One Bathroom Units * 1) Two Bedroom / One Bathroom Unit * 1) One Bedroom / One Bathroom Unit * 1) Studio Unit Current rental rates range from approximately $600 to $750 per month depending upon unit size and configuration. The property is currently approximately 90% occupied with ownership anticipating the property being fully occupied by August. Lease expiration dates are staggered, helping reduce turnover concentration and minimizing vacancy exposure. The property currently houses both students and young professionals, creating a diversified tenant base rather than relying solely upon student housing demand.
Location
State IL
County Mcdonough
Zoning MULTI
Interior
Fireplace N
Exterior
View Y/N true
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Joanna Lewkowicz
Designated Managing Broker | Owner 471.018027471018027
+1(708) 963-0011 | joanna@boutiquehomerealty.com