Kurt Johnson
- Buy
- Sell
https://www.ruhlmortgage.com/ChrisSchneider.html
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!
Property Highlights
Property Type: Multi Unit - Multiple
General Information
Sqft: 12,720
County: Macon
Listed By:
Nate Evans Group
217-239-7113
MRED MLS
MLS ID: 12631828
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1740-1760 S Fairview Avenue , Decatur, IL 62521.
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563-441-1862
toll free 866-441-1862
Customize Your Rate
| Loan Type | FHA 30 Year Fixed | VA 30 year fixed | 30 yr Jumbo |
| Purchase Price | $2,250,000 | $2,250,000 | $2,250,000 |
| Down Payment | $78,750 | $0 | $450,000 |
| Monthly Mortgage Amount | $13,424 | $13,965 | $10,937 |
| Taxes | $3131 | $3131 | $3131 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $1,350 | $0 | $0 |
| Monthly Estimated Total | $18,561 | $17,752 | $14,724 |
Kurt Johnson
REALTOR®
Office: (563) 441-5038
Cell: (563) 343-0675
Licensed in IA & IL
Bettendorf Office
1228 Middle Road
Bettendorf, IA 52722
(563) 441-5000
Bettendorf, IA 52722
(563) 441-5000
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