$315,000
$329,900
4.5%For more information regarding the value of a property, please contact us for a free consultation.
4,005 SqFt
SOLD DATE : 11/29/2023
Key Details
Sold Price $315,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 4,005 sqft
Price per Sqft $78
MLS Listing ID PA1243667
Sold Date 11/29/23
Annual Tax Amount $5,981
Tax Year 2022
Lot Size 9,583 Sqft
Acres 0.22
Property Sub-Type Commercial
Source rmlsa
Property Description
Updated and well-maintained 8-plex apartment building in Pekin, Illinois. All units are 1 Bedroom/1 Bathroom. This property has been renovated and is ready for the new owner to lease the renovated units for increased investment cash flow. 3 units are currently occupied and will only be shown with a letter of intent. 4 renovated, vacant units are available for showing. The estimated net operating income (NOI) on this property when fully occupied is $38,022.84 annually with an estimated, occupied CAP rate of 10.86%. Renovation updates include windows, countertops, bathroom vanities and tub/surrounds, LVT floors, window AC units, water main, Ameren electric lines, and roof coating.
Location
State IL
County Tazewell
Area Paar Area
Zoning RM-2
Direction Corner Veerman & Willow Street
Interior
Heating Forced Air, Gas
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile/Vinyl
Fireplace N
Exterior
View true
Roof Type Rolled/Hot Mop
Garage 1
Building
Faces Corner Veerman & Willow Street
Sewer Public Sewer
Water Municipal/City
Structure Type Brick,Frame
Others
Tax ID 04-04-36-112-018
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