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Description
This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 41 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
County: Henry
Listed By:
Lori Bonarek Realty
815-518-2300
MRED MLS
MLS ID: 12393172
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603 N Prospect Street, Cambridge, IL 61238.
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| Loan Type | FHA 30 Year Fixed | VA 30 year fixed | 30 yr Jumbo |
| Purchase Price | $1,999,999 | $1,999,999 | $1,999,999 |
| Down Payment | $70,000 | $0 | $400,000 |
| Monthly Mortgage Amount | $11,616 | $12,085 | $9,337 |
| Taxes | $2783 | $2783 | $2783 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $1,199 | $0 | $0 |
| Monthly Estimated Total | $16,181 | $15,451 | $12,703 |
Disclaimer:
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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 on this site was last updated 03/04/2026. The listing information on this page last changed on 03/04/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Wed 03/04/2026 2:57:32 AM EST) or MRED MLS (last updated Wed 03/04/2026 2:04:01 AM EST) or SCWMLS (last updated Tue 03/03/2026 11:54:38 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Tue 03/03/2026 10:15:25 PM EST) or Cedar Rapids MLS (last updated Tue 03/03/2026 10:44:16 PM EST) or NEIRBR MLS (last updated Wed 03/04/2026 1:18:40 AM EST) or ICAAR MLS (last updated Tue 03/03/2026 11:37:36 PM EST) or ECIMLS (last updated Tue 03/03/2026 11:44:17 PM EST) or RMLSA (last updated Wed 03/04/2026 1:10:55 AM EST) or Muscatine MLS (last updated Wed 03/04/2026 2:00:21 AM EST) or No Coast MLS (last updated Wed 03/04/2026 12:44:20 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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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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