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Listed by Chris Rothan • eXp Realty
$700,000
Est. payment /mo
1,925 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,925 sqft
Price per Sqft $363
MLS Listing ID PA1265242
Year Built 1967
Annual Tax Amount $9,223
Tax Year 2024
Lot Size 0.530 Acres
Acres 0.53
Property Sub-Type Commercial
Source rmlsa
Property 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.
Location
State IL
County Woodford
Area Paar Area
Zoning Commercial
Direction 116 East, Left on N Niles, Right on E Monroe
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Carpet, Other, Tile
Fireplace N
Exterior
View true
Roof Type Asphalt,Sloped
Garage 1
Building
Faces 116 East, Left on N Niles, Right on E Monroe
Sewer Public Sewer
Structure Type Brick,Aluminum Siding,Vinyl Siding,Frame
Others
Tax ID 09-17-405-007
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