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1740-1760 S Fairview Avenue

Decatur, IL 62521
  • $2,600,000
  • STATUS: Active
  • ON SITE: 23 Days
  • MLS #: 11975028
UPDATED: 65 min ago
$2,600,000
  • 0
    BEDS
  • 2.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:
Area:

School Ratings & Info

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!

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© 2024 Midwest Real Estate Data LLC. 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 MTP, MRED or Main Place Real Estate. Based on information submitted to the MRED as of 2024-03-01T09:59:11.967 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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1740-1760 S Fairview Avenue Decatur, IL 62521

  • Price: $2,600,000
  • Status: Active
  • On Site: 23 Days
  • Updated: 65 min ago
  • MLS #: 11975028
0
Beds
0
Baths
0
½ Baths
2.13
Acres
1900
Built
Neighborhood:
Decatur
County:
Macon
Area:
Decatur
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!
Exterior Features

Exterior Building Type Vinyl Siding Frontage Type Public Road Outdoor Parking 31-50 Spaces Roof Composition

Interior Features

Cooling Window Unit(s) Heat Ventilation ElectricBaseboard Miscellaneous Inside Laundry Room

Property Features

Additional Parcels YN No Approximate Age Older Building Area Total 12720 Built Before1978 YN Yes Current Use Multi-Family Gross Income 0 Gross Scheduled Income 471300 Insurance Expense 14400 Maintenance Expense 14400 Mls Actual Status Active Net Operating Income 361860 Operating Expense 137718 Possible Use Multi-Family Tax Annual Amount 36000 Tax Year 2022 Tenant Pays Varies by Tenant Total Monthly Income 39275 Type Multi Family 5+ Utilities Water-Municipal

Listing information © 2024 Midwest Real Estate Data LLC.
Listing provided courtesy of eXp Realty,LLC-Maho: 217-239-7113.


© 2024 Midwest Real Estate Data LLC. 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 MTP, MRED or Main Place Real Estate. Based on information submitted to the MRED as of 2024-03-01T09:59:11.967 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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101 S Main Street, Suite 700
Decatur IL, 62523