Contact us: 563.441.1776
Description
PART OF A PACKAGE. BUYER MUST ACQUIRE BOTH PARCELS. Unique Investment Opportunity with Multiple Income Streams This offering includes two parcels delivering immediate cash flow and long-term upside. Parcel one includes three multi-unit buildings totaling eight residential units: ? 407 Morgan St ? 2 units (3 Bed/1 Bath, 1 Bed/1 Bath) ? 517 E Monroe ? 4 units (four 2 Bed/1 Bath units) ? 519 E Monroe ? 2 units (2 Bed/1 Bath, 1 Bed/1 Bath) Parcel two features a pay-to-park lot with 49 income-producing parking spaces ? a rare, stable revenue component. The apartment portfolio is nearly fully occupied, with one current vacancy already vetted with a qualified new tenant. Most units have been updated, allowing for strong in-place rents. Additional upside comes from value-add potential through an additional unit that can be finished out in one of the apartments. Also, outdoor storage units have an opportunity to further increase NOI. This is a diversified asset combining residential income with parking revenue - ideal for investors seeking both cash flow and growth potential. Seller is only selling this amazing opportunity as a package deal.
Property Highlights
Property Type: Commercial - Business
Building Description: 2.0 stories
Available Sqft: 1925
Year Built: 1967
General Information
County: Woodford
Listed By:
eXp Realty
Mobile: 309-868-2841
RMLSA
MLS ID: PA1265242
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517 E Monroe Street, Unit 519, Metamora, IL 61548.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $700,000 | $700,000 | $700,000 |
| Down Payment | $140,000 | $24,500 | $175,000 |
| Monthly Mortgage Amount | $3,403 | $4,121 | $4,325 |
| Taxes | $974 | $974 | $974 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $308 | $0 |
| Monthly Estimated Total | $4,581 | $5,607 | $5,503 |
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.
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