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Listed by Lori Bonarekof Lori Bonarek Realty
$ 2,200,000
Est. payment | /mo
1.06 Acres Lot
$ 2,200,000
Est. payment | /mo
1.06 Acres Lot
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12393172
Annual Tax Amount $11,505
Tax Year 2024
Lot Size 1.060 Acres
Lot Dimensions 152 X 304
Property Sub-Type Multi Family 5+
Property Description
This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 40 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.
Location
State IL
County Henry
Zoning MULTI
Interior
Fireplace N
Exterior
View Y/N true
Roof Type Composition
Building
Structure Type Vinyl Siding
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2600 S. Michigan Avenue, Suite 102, Chicago, IL, 60616, United States