209 N Humboldt St - Apartments FOR SALE


Marine, IL 62061
$189,000 USD
877-473-2018
209 N Humboldt St, Marine, IL for Sale
$189,000 USD
Apartments - FOR SALE
1/29
null | 13.07% Cap Rate

209 N Humboldt St
Marine, IL 62061


HIGHLIGHTS

  • Large lot with a detached garage that generates additional rental income
  • Five electrical meters & four water meters (5th water meter can be added)
  • Brick-lined cellar and crawl space beneath the building

OVERVIEW

Investment Opportunity – 4-Unit Apartment Building with Conversion Potential This 4-unit apartment building offers strong investment potential, with the possibility of converting it into a 5-unit property. Currently, one unit has been combined to create a larger 2-bedroom space, featuring two HVAC units and two meters. Before a recent move-in, we were able to photograph one of the units, which had been remodeled with new flooring, updated appliances, and a bathroom renovation. Three of the units have undergone some level of remodeling, blending modern updates with the charm of this historic building. Property Highlights: ? One possible 2-bedroom, 1-bath unit with washer/dryer hookup ? Three 1-bedroom, 1-bath units ? Three A/C units replaced in 2024; remaining units are older ? Five electrical meters & four water meters (5th water meter can be added) ? Brick-lined cellar and crawl space beneath the building ? Original wood trim and historic architectural details in great condition ? Large lot with a detached garage that generates additional rental income

FOR SALE DETAILS

PRICE

$189,000 USD

PRICE/SF

$60 USD /SF

# OF UNITS

4

PRICE/UNIT

$47,250

CAP RATE

13.07%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

209 N Humboldt St, Marine, IL 62061

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

06-2-17-16-18-302-024

ASK ABOUT THIS PROPERTY

Brad ChandlerProperty Peddler IncMore Info
877-473-2018

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Brad ChandlerProperty Peddler IncMore Info
877-473-2018

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.