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Listing 8 out of 356
$399,900 For Sale

1822 West Main #5
Belleville, IL 62226

Multi Family Home
4922 sq ft - MLS# 18066795
Property Photo
1/3

Description

New to the market! 12 unit apartment building close to Lindenwood University. (8) 1- bedroom units(some over-sized) and (4) Studio apartments. Rents range from $400 -$550 p/m. Property underwent a large renovation in 2016 which included some new HVAC units as well as windows and the complete exterior of the building was repainted. 10 units had full renovations completed and 3 units were lightly rehabbed. All tenants are current and the historical vacancy rate is 3%. Value added possibilities are to remodel units 1 and 2 and increase rents so be receiving an extra $200 p/m. Also the addition of storage lockers could add an extra $25 p/m to each unit Landlord pays for water, sewer and trash and a house electric meter. Gross Income: $67,230 / Expenses: $27,882 / NOI $39,348. Cap Rate is 9.84%

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi-Family 5+
  • Listing Status: Active
  • County/Area: St Clair County
  • Zip Code: 62226
  • Year Built: 1936
  • Age: 82
  • Subdivision/Neighborhood: E Of Sub
  • School District: Belleville Dist 118
  • Elementary School: Belleville Dist 118
  • Middle School: Belleville Dist 118
  • High School: Belleville High School-West
  • Lot Size: 4922 sq ft
  • Association: Realtor Association of Southwestern Illinois
  • Building Style: Low/1-2
  • Construction: Brick Veneer Predom
  • Cooling: Wall Unit(s),Window Unit(s)
  • Gross Operating Income: 67230.00
  • Heat Source: Electric,Gas
  • Heating: Forced Air
  • Location: City
  • Lot Dimensions: 52 x 136
  • Lot Square Footage: 4922
  • Net Income: 39348.00
  • Number Of Buildings: 1
  • Parking Description: On Street Parking,Other
  • Sewer: Public
  • Tenant Pays: Cable TV/Satellite,Electric,Gas
  • Total Expenses: 27882.00
  • Water: Public
  • Water Heat: Gas
Courtesy of Ah Realty Advisors, Llc
agent photo
Yolanda Hoversten - Broker
Berkshire Hathaway HomeServices
Elite Properties

333 Salem Place, Suite 240
Fairview Heights, IL 62208
Phone: 618-407-9195
Voice: 618-589-2349
Email: YolandaHoversten@gmail.com
Web: YolandaRealtor.com

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