517 E MONROE Street unit: 519, Metamora, IL 61548
sale
$700,000
|
Other
Courtesy Of EXP Realty
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.
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Property Features
- Age: Over 50 Years Old
- Building Units: 8
- Cooling System: Central Air
- Exterior Type: Vinyl Siding
- Exterior Type: Brick
- Exterior Type: Frame
- Exterior Type: Aluminum Siding
- Floor Covering: Tile
- Floor Covering: Carpet
- Floors: 2
- Heating System: Forced Air
- Heating System: Natural Gas
- Legal Description: T27N - R2W - S17 LOTS 7 8 9 10 11 12 BLK 2 T27N - R2W - S17 S 20' LT 3 & ALL LTS 4 5 6 BLK 2
- MLSID: PA1265242
- Roof Type: Asphalt
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