Bob Kelly
- Buy
- Sell
https://www.ruhlmortgage.com/LawrenceDavis.html
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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563-441-1862
toll free 866-441-1862
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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 |
Bob Kelly
REALTOR®
Cell: (563) 650-2168
Licensed in IL & IA
Moline Office
1701 52nd Avenue
Moline, IL 61265
(309) 743-8000
Moline, IL 61265
(309) 743-8000
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