$204.40 Per Sq Foot $13,957 est/mo Sourced by Back At You

1740-1760 S Fairview Avenue,Decatur, IL 62521

Decatur IL, 62521

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Description

Welcome to an exceptional investment opportunity! This fully occupied 65-unit residential property is a testament to prime real estate. Located a mere 1.5 miles from Millikin University, this turnkey profit maker is not only strategically positioned but also renovated, offering an impressive 13% cap rate. The property is professionally managed with a dedicated repair person and leasing manager in place, providing a hassle-free and efficient operation. The strategic location near Millikin University enhances the property's appeal, making it an attractive option for students, faculty, and local residents alike. The robust 13% cap rate underscores the financial viability of this investment, promising a substantial return on your investment. One of the highlights of this property is the secured repair person and leasing manager, ensuring that any maintenance issues are promptly addressed, and vacancies are efficiently filled. This streamlined management approach adds to the property's appeal as a low-maintenance, high-yield investment. An additional profit stream awaits with the completion of the laundry room. Once finalized, this amenity has the potential to further enhance tenant satisfaction and increase rental income, adding even more value to this already lucrative investment. In summary, this 65-unit residential property is not just a sound investment; it's a turnkey profit-making machine. From its prime location near Millikin University to the full occupancy and renovated units, every aspect has been optimized for success. Seize the opportunity to become the proud owner of a property that combines immediate returns with long-term potential. Don't miss your chance to secure a prime piece of real estate in a thriving location!

Details

MLS#11975028
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusPending
Year1900
Days On Site113
Listing Provided ByeXp Realty,LLC-Maho | Nate Evans

Features

SQ Feet12,720
Story(s)3
Units65
Acreage2.13

Market Activity 62521

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Learn More About This Property

StateIL
CountyMacon
CityDecatur
Zip Code62521
AreaDecatur
Listing VS Median (in 62521)
Price:
$2,600,000
low | high
Med:
$102,000
100% of Average
SqFt:
12,720
low | high
Med:
1,083
100% of Average
$ / SqFt:
$204
low | high
Med:
$96
100% of Average
On Site:
113
low | high
Med:
27.500000
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 7:25:48 PM PDT