Bought with Hetul Thakkar of ARNI Realty Incorporated
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21,516 SqFt
Key Details
Sold Price -
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 21,516 sqft
MLS Listing ID 12538449
Sold Date -
Year Built 1970
Annual Tax Amount $27,000
Tax Year 2024
Lot Size 1.820 Acres
Lot Dimensions 79279 SF
Property Sub-Type Multi Family 5+
Property Description
Currently fully occupied 24-unit, this building has 76 new windows, 16 new sliding doors, all new steel siding costing over 100K, many apartments have updated plumbing. Water heater is from 2018, building is fully turn key, most units are updated/renovated. Monthly rent roll is just over $20k with a lot more room for growth and potential. Only 5 minutes to I-39, I-90, and US20, and in the hottest market in the US. Rents should be $1200 for 2 bedroom units and $1100 for 1 bedroom units, building should be producing $30k proforma, without doing much work. Not many buildings like this for sale in Rockford!
Location
State IL
County Winnebago
Zoning MULTI
Rooms
Basement None
Interior
Cooling Central Air, Wall Sleeve
Fireplace N
Exterior
View Y/N true
Roof Type Rubber,Tar/Gravel
Building
Foundation Concrete Perimeter
Water Municipal Water
Structure Type Brick,Steel Siding
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