Rockford, IL 61108
$2,449,000
Presented By: Realty One Group Excel
Beds • 3
SQFT • 21,516
Home Details
Currently fully occupied 24-unit, this building has 76 new windows, 16 new sliding doors, all new steel siding costing over 100K, many apartments have updated plumbing. Water heater is from 2018, building is fully turn key, most units are updated/renovated. Monthly rent roll is just over $20k with a lot more room for growth and potential. Only 5 minutes to I-39, I-90, and US20, and in the hottest market in the US. Rents should be $1200 for 2 bedroom units and $1100 for 1 bedroom units, building should be producing $30k proforma, without doing much work. Not many buildings like this for sale in Rockford!
Presented By: Realty One Group Excel
Interior Features for
Other Interior Features
BasementNone
General for
Additional Parcels Y/NNo
Cap Rate10
CityRockford
Construction MaterialsBrick, Steel Siding
CoolingCentral Air, Wall Sleeve
CountyWinnebago
Current UseMulti-Family
DirectionsTake Harrison Ave Exit from I39 & I90 intersection, go West 3 miles on Harrison to building.
ElectricCircuit Breakers, Power - 120V
Electric Expense1500
Fuel Expense
Gross Income245000
Insurance Expense11000
Lot Size Square Feet79279
MLS AreaRockford
MaintenanceExpense5000
Net Operating Income178000
Number Of Units Total24
Operating Expense67000
PossessionClosing
Possible UseMulti-Family
Property TypeCommercial Sale
Property TypeMulti Family 5+
RoofRubber, Tar/Gravel
Standard StatusActive
StatusActive
Stories Count3
Tax Annual Amount27000
Tax Year2024
Tenant PaysAir Conditioning, Electricity, Heat
TownshipCherry Valley
Trash Expense4500
Water Sewer Expense14000
Year Built1970
ZoningMULTI
Exterior for
Building Area Total21516
Foundation DetailsConcrete Perimeter
Frontage TypeCity Street
Lot Dimensions79279 SF
Lot Size Acres1.82
Water SourceMunicipal Water
Additional Details
Price History
