Description
This 10-unit multifamily investment opportunity is located just blocks from Western Illinois University in Macomb and currently serves a mix of both student and young professional tenants. With strong rental demand generated by WIU and surrounding employers, the property offers investors stable cash flow and long-term upside potential. The property consists of the following unit mix: * 7) Three Bedroom / One Bathroom Units * 1) Two Bedroom / One Bathroom Unit * 1) One Bedroom / One Bathroom Unit * 1) Studio Unit Current rental rates range from approximately $600 to $750 per month depending upon unit size and configuration. The property is currently approximately 90% occupied with ownership anticipating the property being fully occupied by August. Lease expiration dates are staggered, helping reduce turnover concentration and minimizing vacancy exposure. The property currently houses both students and young professionals, creating a diversified tenant base rather than relying solely upon student housing demand.
Details
| MLS # | 12665610 |
|---|---|
| Listing Type | For Sale |
| Style | Multi Family 5+ |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 2006 |
| Days On Site | 117 |
| Listing Provided By | MR. LANDMAN | Jon Fisher |
Features
| Story(s) | 2 |
|---|---|
| Units | 10 |
| Zoning | MULTI |
| Acreage | 0.64 |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 12660 |
Area Information
| State | IL |
|---|---|
| County | McDonough |
| City | Macomb |
| Zip Code | 61455 |
| Area | Macomb |
| Listing VS Median (in 61455) | |
Price: $450,000 low | high Med: $395,000 On site: 117 low | high Med: 584 | |
Market Activity 61455
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Learn More About This Property
| State | IL |
|---|---|
| County | McDonough |
| City | Macomb |
| Zip Code | 61455 |
| Area | Macomb |
| Listing VS Median (in 61455) | |
Price: $450,000 low | high Med: $395,000 On site: 117 low | high Med: 584 | |