520 Main Street, Pecatonica, IL 61063

sale $329,990 | Other

Courtesy Of Realty One Group Excel

Prime Mixed-Use Investment Opportunity in Pecatonica, IL - This 7-unit property at 520 Main St features two vacant storefronts and five apartments, with only one apartment empty for showing. (three 2-bed/1-bath units, one 1-bed/1-bath unit, and one 3-bed/1-bath unit). The current rent roll is under 3k per month currently with vacancies and low rents in place, with significant upside potential - fully leased and at market rents, the property can generate 6k/month. Both storefronts can be rented for 700-900 each, adding substantial income. The apartment units are leased under market and could all be raised as well. All leases are month to month so rents could be easily raised with a 30 day notice. In the past year, there has also been a brand new furnace and water heater put in. The building is entirely separately metered, keeping expenses low and operations efficient. Priced at 400k, with the upside, this is a fantastic value-add opportunity with strong cash flow potential in a historic community.

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Property Features

Age: Over 50 Years Old
Architecture Style: Other
Building Units: 7
MLSID: 12317390

Directions to This Property

520 Main Street, Pecatonica, IL 61063

Demographic Data for 520 Main Street, Pecatonica, IL 61063

Average Age

Married

60%

Number of Homes

1,915

Homes with Children

26.60%

Occupation Type

Transportation to Work

CENTURY 21 Affiliated

p: 815.397.7700

7210 East State Street

Rockford, IL 61108