$ 2,600,000
1740-1760 S Fairview Avenue Decatur, IL 62521
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$ 2,600,000
Est. payment | /mo
12,720 SqFt
$ 2,600,000
Est. payment | /mo
12,720 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Pending
Purchase Type For Sale
Square Footage 12,720 sqft
Price per Sqft $204
MLS Listing ID 11975028
Year Built 1900
Annual Tax Amount $36,000
Tax Year 2022
Lot Size 2.130 Acres
Lot Dimensions 0X0
Property Description
Welcome to an exceptional investment opportunity! This fully occupied 65-unit residential property is a testament to prime real estate. Located a mere 1.5 miles from Millikin University, this turnkey profit maker is not only strategically positioned but also renovated, offering an impressive 13% cap rate. The property is professionally managed with a dedicated repair person and leasing manager in place, providing a hassle-free and efficient operation. The strategic location near Millikin University enhances the property's appeal, making it an attractive option for students, faculty, and local residents alike. The robust 13% cap rate underscores the financial viability of this investment, promising a substantial return on your investment. One of the highlights of this property is the secured repair person and leasing manager, ensuring that any maintenance issues are promptly addressed, and vacancies are efficiently filled. This streamlined management approach adds to the property's appeal as a low-maintenance, high-yield investment. An additional profit stream awaits with the completion of the laundry room. Once finalized, this amenity has the potential to further enhance tenant satisfaction and increase rental income, adding even more value to this already lucrative investment. In summary, this 65-unit residential property is not just a sound investment; it's a turnkey profit-making machine. From its prime location near Millikin University to the full occupancy and renovated units, every aspect has been optimized for success. Seize the opportunity to become the proud owner of a property that combines immediate returns with long-term potential. Don't miss your chance to secure a prime piece of real estate in a thriving location!
Location
State IL
County Macon
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Utilities Available Water-Municipal
View Y/N true
Roof Type Composition
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Nate Evans • eXp Realty,LLC-Maho
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