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135 E Prairie Street , 1-4

Decatur, IL 62523
  • $478,000
  • STATUS: Active
  • ON SITE: 25 Days
  • MLS #: 6222094
UPDATED: 32 min ago
$478,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1880
County:
Area:

School Ratings & Info

School District:

Description

Downtown living is in high demand, making it a great investment opportunity to own all 4 residential condo units in the historic 135 E. Prairie building. All 4 units are rented and produce an impressive annual cash-flow return. Each unit offers unique features including cathedral ceilings and exposed brick walls. Historically extremely low vacancy rates. Utilities split and the owner is responsible for insurance, trash, and common area maintenance. Currently priced at 8% CAP rate. Future opportunities to convert to short term/corporate rentals and increase profitability exist in the market. Contact broker for all inquiries.

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© 2022 Central Illinois Board of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Main Place Real Estate. Data last updated: 2022-08-15T11:27:55.21.
www.mainplace.us/homes/131075921
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135 E Prairie Street , 1-4 Decatur, IL 62523

  • Price: $478,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 32 min ago
  • MLS #: 6222094
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1880
Built
Neighborhood:
Decatur
County:
Macon
Area:
Decatur
School District:
Decatur Dist 61
Property Description
Downtown living is in high demand, making it a great investment opportunity to own all 4 residential condo units in the historic 135 E. Prairie building. All 4 units are rented and produce an impressive annual cash-flow return. Each unit offers unique features including cathedral ceilings and exposed brick walls. Historically extremely low vacancy rates. Utilities split and the owner is responsible for insurance, trash, and common area maintenance. Currently priced at 8% CAP rate. Future opportunities to convert to short term/corporate rentals and increase profitability exist in the market. Contact broker for all inquiries.
Exterior Features

Carport Spaces 0 Lake Front Yn No Roof Other

Interior Features

Cooling Central Hookups In Bldg Yn No Total Above Grade Sqft 0

Property Features

Gross Scheduled Income 56640.00 Lease Yn No Lot Size Square Feet 3824.00 Operating Expense 17677.00 Owner Pays No Utilities Property Sub Type Quad Sewer Desc City Sewer Special Listing Conditions None Subdivision Yn No Tax Amount 8944.00 Tax Year 2021 Water Heater Other Water Source Public Zoning Mun

Listing information © 2022 Central Illinois Board of Realtors MLS.
Listing provided courtesy of Zane Peterson of Main Place Real Estate.


© 2022 Central Illinois Board of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Main Place Real Estate. Data last updated: 2022-08-15T11:27:55.21.
 
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Main Place Real Estate
101 S Main Street, Suite 700
Decatur IL, 62523