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Garrett Johnson

homesbygarrett@gmail.com +1(847) 337-1157

$2,250,000

Est. payment - /mo

12,720 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 12,720 sqft

Price per Sqft $176

MLS Listing ID 12631828

Year Built 1979

Annual Tax Amount $36,000

Tax Year 2022

Lot Dimensions 0X0

Property Sub-Type Multi Family 5+

Property Description

Prime Investment Opportunity - 65-Unit Multifamily Property Near Millikin University Welcome to an exceptional investment opportunity! This 65-unit residential property offers strong income potential, strategically positioned just 1.5 miles from Millikin University. With a current cap rate of 7.71 0/0 and a GRM of 6.95, this asset is priced based on existing income figures-reflecting the low 66 0/0 occupancy rate, leaving significant upside for the savvy investor. Some recent renovations, the units provide modern, comfortable living spaces that attract both students and local residents, further enhancing the rental potential. Value-Add Potential Increase in Occupancy: With only 66 0/0 occupancy, there's a major opportunity to increase revenue and push returns even higher. Laundry Room Completion: Once finalized, this additional amenity will further enhance tenant satisfaction and generate additional income. This is more than just an investment-it's a turnkey opportunity with immediate income and long-term appreciation potential. Whether you're an experienced investor or looking to expand your portfolio, this property offers a rare chance to acquire a high-yield asset in a prime location. Don't miss out on securing this income-producing multifamily property-schedule a showing today!

Location

State IL

County Macon

Area Decatur

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Vinyl Siding

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Listed by Nate Evans of Nate Evans Group

Nearby School & Business

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Garrett Johnson

+1(847) 337-1157

Agent License ID: 475.188206

1740-1760 S Fairview AVE Decatur, IL 62521

Garrett Johnson

Key Details

Location

Interior

Building

Nearby School & Business

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