$2,600,000 Price Analysis    ♡   Decatur, IL 62521 Unknown bed 2 bath unknown SqFt ($0/SqFt) 2.13 acre lot. Built 1900 Listed 2024-02-06, Taxes $37,031 | Ⓧ USDA Ineligible due to price & location near Decatur |
Welcome to an exceptional investment opportunity!
* Sale Pending *This fully occupied 65-unit residential property is a testament to prime real estate. Located a mere 1.5 miles from Millikin University, this turnkey profit maker is not strategically positioned but also renovated, offering an impressive 13% cap rate. The property is professionally managed with a dedicated repair person and leasing manager in place, providing a hassle-free and efficient operation. The strategic location near Millikin University enhances the property's ppeal, making it an attractive option for students, faculty and local residents alike. The robust 13% cap rate underscores the financial viability of this investment, promising a substantial return on your investment.
One of the highlights of this property is the secur ed repair person and leasing manager, ensuring that any maintenance issues are promptly addressed and vacancies are efficiently filled. This streamlined management approach adds to the property's appeal as a low-maintenance, high-yield investment. An additional profit stream awaits with the completion of the laundry room. Once finalized, this amenity has the potential to further enhance tenant satisfaction and increase rental income, adding even more value to this already lucrative investment. In summary, this 65-unit residential property is not a sound investment; it's a turnkey profit-making machine. From its prime location near Millikin University to the full occupancy and renovated units, every aspect has been optimized for success. Seize the opportunity to become the proud owner of a property that combines immediate returns with long-term potential. Don't miss your chance to secure a prime piece of real estate in a thriving location!
Presented by Nate Evans at
eXp Realty.
Property MLS #11975028 from MRED
Lot Size Dimensions: 0X0
Lot Size Square Feet: 92783
Calculated Total Monthly Association Fees: 0
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Full Bathrooms in Unit-1: 1
Full Bathrooms in Unit-2: 1
Total Rooms in Unit-1: 4
Total Rooms in Unit-2: 5
Source Listing Status: Pending
County: Macon
Current Use: Multi-Family
Directions: S Fairview Ave. Take left onto S Fairvew Ave after the stoplight and South Side Dr.
Tax Year: 2022
Source Property Type: Multi-Family
Possible Use: Multi-Family
Parcel Number: 041221428010
Property Subtype: Multi Family 5+
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $333,252 + $22,957 $356,209 | $37,031 |
| 2021 | $316,358 + $21,793 $338,151 | $34,793 |
| 2020 | $304,688 + $20,989 $325,677 | $35,530 |
| 2019 | $301,671 + $20,781 $322,452 | $34,288 |
| 2018 | $293,855 + $18,784 $312,639 | $32,847 |
| 2017 | $301,699 + $19,285 $320,984 | $33,621 |
| 2016 | $304,777 + $19,482 $324,259 | $34,261 |
| 2015 | $299,388 + $19,138 $318,526 | $32,557 |
| 2014 | $277,247 + $18,949 $296,196 | $28,393 |
| 2013 | $287,660 + $19,661 $307,321 | $28,892 |
| 2012 | $296,557 + $20,269 $316,826 | $29,518 |
| 2011 | $304,161 + $20,789 $324,950 | $29,473 |
| 2009 | $547,304 + $21,432 $568,736 | $50,599 |
$2,600,000
MRED
Sold 2024-01-02
$1,600,000
Public Record
Listing removed 2021-11-11
$0
CentralIllinois
Listed 2021-11-10
$800,000
CentralIllinois
Property Age: 124
Roof: Composition
Levels or Stories: 3
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.