Decatur, IL 62521,1740-1760 S Fairview AVE
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Decatur, IL 62521,1740-1760 S Fairview AVE
Decatur, IL 62521,1740-1760 S Fairview AVE
Decatur, IL 62521,1740-1760 S Fairview AVE
Decatur, IL 62521,1740-1760 S Fairview AVE

$2,375,000

Est. payment /mo

$2,600,000

8.7%
Est.Price: ?

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1740-1760 S Fairview AVE Decatur, IL 62521

12,720 SqFt

SOLD DATE : 09/25/2024

Key Details

Sold Price $2,375,000

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Sold

Purchase Type For Sale

Square Footage 12,720 sqft

Price per Sqft $186

MLS Listing ID 11975028

Sold Date 09/25/24

Maintenance Fees $14,400

Year Built 1900

Annual Tax Amount $36,000

Tax Year 2022

Lot Size 2.130 Acres

Lot Dimensions 0X0

Property 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!

Location

State IL

County Macon

Area Decatur

Interior

Cooling Window Unit(s)

Fireplace N

Exterior

Utilities Available Water-Municipal

Roof Type Composition

Building

Level or Stories 3

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Midwest Real Estate Data (MRED) IDX
Listed by Nate Evans • eXp Realty,LLC-Maho
Bought with Nate Evans • eXp Realty,LLC-Maho

Laurie Field

Real Estate Advisor

+1(312) 504-7010

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