1740-1760 S Fairview Avenue,Decatur, IL 62521
Decatur, IL 62521
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!
Details
| MLS # | 12631828 |
|---|---|
| Listing Type | For Sale |
| Style | Multi Family 5+ |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1979 |
| Days On Site | 149 |
| Listing Provided By | Nate Evans Group | Nate Evans |
Features
| SQ Feet | 12,720 |
|---|---|
| Story(s) | 3 |
| Units | 61 |
Exterior
| Construction Materials | Vinyl Siding |
|---|
Taxes
| Tax Year | 2022 |
|---|---|
| Tax Annual Amount | 36000 |
Area Information
| State | IL |
|---|---|
| County | Macon |
| City | Decatur |
| Zip Code | 62521 |
| Area | Decatur |
| Listing VS Median (in 62521) | |
Price: $2,250,000 low | high Med: $125,000 sqft: 12,720 low | high Med: 922 $ / sqft: $177 low | high Med: $136 On site: 149 low | high Med: 197 | |
Market Activity 62521
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IL |
|---|---|
| County | Macon |
| City | Decatur |
| Zip Code | 62521 |
| Area | Decatur |
| Listing VS Median (in 62521) | |
Price: $2,250,000 low | high Med: $125,000 sqft: 12,720 low | high Med: 922 $ / sqft: $177 low | high Med: $136 On site: 149 low | high Med: 197 | |