Description
Seller now willing to offer seller financing for the 20% of purchase price lender would require! Ask your agent for details. Great investment opportunity at 11.7%+ capitalization rate w/ ~$21k annual rent and ~$14.7k+ net operating income! Unit 1 currently leased for $960/mo ($305/bedroom + $45/mo pet fee). Unit 2 currently leased for $915/mo ($305/bedroom). One block away from Millikin University, washer and dryer in both units, and nice updates make this a very attractive student rental. The house has been given an entire facelift since 2018 including new windows, new vinyl siding, new drywall, new appliances, new kitchen cabinets, and new bathroom fixtures. Each unit has its own HVAC and water heater, which seller believes were replaced around 2015. Separate exterior entrances for both units w/ separate USPS addresses. Lower unit has an additional living room and dining room, as well as basement access where the laundry is. Lots of parking in the rear! Current leases active through May and owner is actively marketing to sign new leases for 2023-2024 school year.
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0BEDS
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0.31ACRES
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0BATHS
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01/2 BATHS
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2,152SQFT
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$58$/SQFT
Description
Seller now willing to offer seller financing for the 20% of purchase price lender would require! Ask your agent for details. Great investment opportunity at 11.7%+ capitalization rate w/ ~$21k annual rent and ~$14.7k+ net operating income! Unit 1 currently leased for $960/mo ($305/bedroom + $45/mo pet fee). Unit 2 currently leased for $915/mo ($305/bedroom). One block away from Millikin University, washer and dryer in both units, and nice updates make this a very attractive student rental. The house has been given an entire facelift since 2018 including new windows, new vinyl siding, new drywall, new appliances, new kitchen cabinets, and new bathroom fixtures. Each unit has its own HVAC and water heater, which seller believes were replaced around 2015. Separate exterior entrances for both units w/ separate USPS addresses. Lower unit has an additional living room and dining room, as well as basement access where the laundry is. Lots of parking in the rear! Current leases active through May and owner is actively marketing to sign new leases for 2023-2024 school year.
© 2023 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: 2023-03-28T13:27:39.23.