Jolean Overton-Austin
- Buy
- Sell
https://www.ruhlmortgage.com/GregCotton.html
Description
Solid 5-unit investment property with all units currently occupied and producing consistent income. The building brings in $5,700/month ($5,425 in rents + $275 from laundry) with a current NOI of $44,250. Rents are below market, giving the next owner a clear opportunity to increase cash flow over time without needing a heavy lift. Major updates already taken care of, including a new roof and a boiler and water heater both under 10 years old, helping limit near-term capital expenses. This is a strong option for an investor looking for a stable, already-performing property with upside still left in it. On-site laundry adds an additional income stream, and the property is straightforward to manage in its current condition. Whether you plan to hold long-term or gradually raise rents and improve returns, there's room to execute your strategy here. Rent roll and financials available in documents.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
County: Lake
Listed By:
4 Sale Realty Advantage LLC
847-601-9359
MRED MLS
MLS ID: 12624199
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1425 10th Street , Waukegan, IL 60085.
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563-441-1862
toll free 866-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $519,000 | $519,000 | $519,000 |
| Down Payment | $103,800 | $18,165 | $129,750 |
| Monthly Mortgage Amount | $2,456 | $3,055 | $3,155 |
| Taxes | $722 | $722 | $722 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $228 | $0 |
| Monthly Estimated Total | $3,329 | $4,156 | $4,028 |
Jolean Overton-Austin
REALTOR®
ABR, CRS, AHWD
Cell: (563) 676-6363
Licensed in IA & IL
Davenport Office
4545 Welcome Way
Davenport, IA 52806
(563) 441-5100
Davenport, IA 52806
(563) 441-5100
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