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1740-1760 S Fairview Avenue
Decatur IL 62521 US

$2,600,000

Pending Listing ID 11975028
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Lot: 2.13 Acres
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Other

$2,600,000

Pending Listing ID 11975028
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1740-1760 S Fairview Avenue 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!

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Property Features

  • Facts
  • Lot Size: 2.13 Acres
  • Property Type: Commercial Sale
  • Property Sub-type: Other
  • Features
  • Cooling System: Window Unit(s) A/C
  • Roof Type: Composition

Property

  • propertytype: Commercial Sale
  • propertysubtype: Other
  • listprice: 2600000
  • unparsedaddress: 1740-1760 S Fairview Avenue
  • postalcity: Decatur
  • stateorprovince: IL
  • country: US
  • postalcode: 62521
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 2.13
  • lotsizeunits: Acres
  • lotsizearea: 2.13
  • livingarea: 12720
  • livingareaunits: Square Feet
  • listagentfullname: Nate Evans
  • listagentemail: nate@thenateevansgroup.com
  • listagentkey: 3yd-MREDIL-952431
  • listagentmlsid: 952431
  • listagentpreferredphone: 8885749405
  • listagentofficephone: 8885749405
  • listofficekey: 3yd-MREDIL-95403
  • listofficemlsid: 95403
  • disclaimer: Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: MREDIL
  • yearbuilt: 1900
  • listingcontractdate: 2024-02-06
  • listagenturl: https://il.exprealty.com/
  • countyorparish: Macon
  • parcelnumber: 041221428010
  • cooling: Window Unit(s) A/C
  • constructionmaterials: Vinyl Siding
  • numberofunitstotal: 65
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • roof: Composition
  • waterfrontyn: False
  • architecturalstyle: Other
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: False
  • customfields: {"AlternatePrices":[], "Expenses":[], "ListPriceCurrencyType":"USD", "ListingURL":"https://listings.listhub.net/pages/MREDIL/11975028/?channel=rexren", "LeadRoutingEmail":"il.broker@exprealty.com", "BrokerName":"eXp Realty, LLC", "ListingTitle":"Commercial Sale - Decatur, IL", "ListOfficeBrokerMlsId":null, "ListOfficeEmail":"il.broker@expreatly.net", "ListOfficeAddress1":"501 E Main", "ListOfficeAddress2":null, "ListOfficeCity":"Mahomet", "ListOfficePostalCode":"61853", "ListOfficeStateOrProvince":"IL", "ListOfficeCountry":"US", "BuilderPhone":null, "BuilderFax":null, "BuilderEmail":null, "UnparsedAddress":null, "UnitNumber":null, "City":null, "StateOrProvince":null, "PostalCode":null, "Country":null, "ListBrokerageName":"eXp Realty, LLC", "ListBrokeragePhone":"888-574-9405", "ListBrokerageEmail":"il.broker@expreatly.net", "ListBrokerageWebsiteUrl":"https://il.exprealty.com/", "ListBrokerageLogoUrl":"http://brokerlogos.listhub.net/MREDIL/a3021210a6cb11e290dc1231390c3dc2/20240207215614367.png", "ListBrokerageUnparsedAddress":"939 W North Ave", "ListBrokerageUnitNumber":"#750", "ListBrokerageCity":"Chicago", "ListBrokerageStateOrProvince":"IL", "ListBrokeragePostalCode":"60642", "ListBrokerageCountry":"US", "RoomCount":null, "GeocodeOptions":null, "MLSModificationTimestamp":"2024-03-14T12:32:04Z", "Neighborhoods":[{"Name":"Decatur", "Description":null}], "Taxes":[{"TaxYear":"2022", "TaxAnnualAmount":36000, "TaxDescription":null}]}
Listing Changed: 3/26/2024 2:28:30 PM GMT
Source Updated Date: 5/5/2024 6:43:15 AM GMT

Courtesy of: Nate Evans, eXp Realty,LLC-Maho, nate@thenateevansgroup.com

Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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