2/4 Unit Buildings

Multi-Family for Sale
Catylist Listing ID: 30512003
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 8 Units
Building Size (RSF): 3,264 SF
Gross Building Area: See Agent
Gross Land Area: 104,960 SF
Sale Price: $205,000
Unit Price: $25,625 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 10/4/2019

Overview / Comments

Two brick 4 units buildings next to each other. 1224 N Main has 4 - 1 bedrooms, heat paid by tenants. There is an additional building in rearused for storage. 1226 N Main has 3-2 bedrooms units and 1-1 bedroom unit, electric heat paid by tenants. In this building there is a washer and dryer ownedby tenant. Bldgs have two newer gas hot water heaters. Both units fully rented. Total Monthly Rent $4025.00 Total Monthly expenses $1624.00 Annual Totals:Yearly Income $48,300 Total expenses including taxes on both buildings $7,712. Yearly expense $19,488 Net Operating Income $28,812 ( stoves andrefrigerators stay except 1 unit lower 1226 owns both stove and refrigerator.

Additional Details

Nearest MSA: Rockford
County: Winnebago
Tax ID/APN: 1114454039
Zoning: R2 LEGALLY ESTABLISHED AS A 2/4 FAMILY BUILDINGS WITH PERMITS
Percent Occupied: 100%
Property Located Between: AUBURN ST N MAIN ST
Site Description: Located on N Main, parking in the back off street off alley
Area Description: Older neighborhood, west side of Rockford, There are other multi family in the area,
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Year Built: 1926
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: 1224 is older building red brick 1226 is newer and has a lighter brick. in average condition for the age
Parking Type: Surface
Parking Description: parking for approx 8 vehicles behind the building
Total Parking Spaces: 8
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Gas, Electric
Interior Description: 1224 N Main has 4/1 bedroom units, 1226 N Main has 3/ 2 bedroom and 1/1 bedroom Older buildings all units rented
Zoning Description: R2
Lot Frontage: 159.62S 107.70S
Lot Depth: 149.12S 252.52S
Sewer Type: Municipal
Land Ownership: ..
Legal Description: Vanstons Add ( Exc that pt to state by 00-17984) Lot 1&2 Haeggs...

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,159 112,739 194,050
Median Age: 35.98 35.93 37.67
Households: 8,705 44,456 76,594

Contact

Photograph of Listing Agent

Sandra M Pastore

5 Points Realtors
ICEx Member
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