Excellent investment opportunity with this updated 4-unit property on S. 8th Street. This multi-family building offers a unique chance for an owner-occupant to live in one unit while generating rental income from the others, making it an ideal entry into real estate investing. Key features: * Potential Gross monthly rent of $2,050 ($24,600 / year) * 4 units, each with 1 bedroom and 1 bath * 3 units recently updated with modern plank flooring and fresh paint * 1 unit occupied by a long-term tenant * Garage (currently unrented) and off-street parking * Recent exterior improvements: tuckpointing and new paint * Separate electric & gas meters * 2 x month to month leases Perfect for first-time investors: * One vacant unit available for immediate owner occupancy * Option to lease vacancy to a non profit for $600 / month on 12 month lease * Collect rent from other tenants to offset mortgage costs * Gain valuable landlord experience while building equity * Excellent starting point for a rental property portfolio Additional benefits: * Down Payment Assistance available for eligible buyers * Potential for increased rental income by leasing the garage and signing new leases for at-will tenants. Great building for new or experienced investors. 'other' roof is Rolled 2 furnaces, 4 water heaters, both gas, Stove included, Refrigerator included
MLS# | 12277252 |
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Listing Type | For Sale |
Style | House |
Sub-Type | Resale |
Status | Active |
Year | 0 |
Days On Site | 18 |
Listing Provided By | Swick Realty | Spencer Schelp |
Bed(s) | 4 |
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Bath(s) | 4 Total |
Garage | 1 |
Zoning | COMMR |
Acreage | 0.15 |
State | IL |
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County | Adams |
City | Quincy |
Zip Code | 62301 |
Area | Quincy |
School District | Quincy |
Elementary School | Lincoln-Douglas |
Listing VS Median (in 62301) | |
On Site: 18 low | high Med: 562.000000 |