110-116 E Prairie St
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110-116 E Prairie St
10 Unit Apartment Building $849,000 ($84,900/Unit) 9.82% Cap Rate Marengo, IL 60152
Investment Highlights
- Close to town
- Thriving economy
- Near the Highway
Executive Summary
NEW PRICE!!! Prime Investment Opportunity in Downtown Marengo - Fully Leased 10-Unit Apartment Building. Located in the heart of Marengo, IL, presents an exceptional investment opportunity. The property has undergone recent updates, enhancing its appeal and boosting rental income. Constructed with durable brick and block, the building requires minimal maintenance, making it a hassle-free investment. Tenants are responsible for their own electric bills, while the landlord only covers real estate taxes and water, with no natural gas utilized on the property. The building offers an excellent opportunity for investors seeking a low-maintenance, high-return asset. This property is ideally located within walking distance to local restaurants, banks, bars, and other conveniences. This fully leased, updated apartment building offers an outstanding opportunity for both seasoned investors and those new to the market, providing strong cash flow with low operational costs and minimal management requirements.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $849,000 | Building Class | C |
| Price Per Unit | $84,900 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 5,400 SF |
| Cap Rate | 9.82% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 1.85/1,000 SF |
| Apartment Style | Low Rise |
| Price | $849,000 |
| Price Per Unit | $84,900 |
| Sale Type | Investment |
| Cap Rate | 9.82% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 5,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.85/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Eat-in Kitchen
- Vinyl Flooring
Site Amenities
- Business Center
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $800.00 | - |
| 1+1 | 5 | $850.00 | - |
| 2+1 | 3 | $1,050 | - |
PROPERTY TAXES
| Parcel Number | 11-36-154-007 | Improvements Assessment | $134,397 |
| Land Assessment | $14,971 | Total Assessment | $149,368 |
PROPERTY TAXES
Parcel Number
11-36-154-007
Land Assessment
$14,971
Improvements Assessment
$134,397
Total Assessment
$149,368
zoning
| Zoning Code | commercial |
| commercial |
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110-116 E Prairie St
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