BEDS0
BATHS
SQUARE FEET49,680
MLS#12443014
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
**Exceptional Investment Opportunity!** This 100% occupied apartment complex offers stable performance, a strong base of long-term tenants, and substantial upside for future income growth. The property consists of two garden-style, two-story buildings totaling 48 units, including 36 two-bedroom apartments and 12 one-bedroom apartments, each with separate utilities. Major capital improvements include a newer roof (2019), new windows, patio doors, siding, gutters, and fascia (2023), along with new front entrance doors (2026). The laundry room has also been completely remodeled and offers the capacity to install six new washers and dryers. Current income does not include any laundry revenue, creating an immediate opportunity to generate an additional income stream once the machines become operational. Additional features include 85 paved parking spaces and excellent potential for a future condominium conversion. With full occupancy, valuable recent improvements, multiple opportunities to increase revenue, and returns that stand out in today's market, this exceptional income-producing asset is truly an investor's dream. Don't miss this rare opportunity to acquire a well-positioned multifamily property with significant growth potential!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Window Unit(s)
Lot Size: 2.42 Acres
Roof Type: Composition
Stories: 2.0
Taxes: $56,793
Year Built: 1978
Feature Descriptions
Current Use: Multi-Family
Electric: Circuit Breakers, Service - 0 to 100 Amps
Exterior: Brick, Block
Fire Protection: Fire Extinguisher/s, Sprinklers-Wet, Carbon Monoxide Detector(s)
Foundation: Concrete Perimeter
Frontage Type: City Street
HVAC: Electric
Location: Central Business District
Lot Dimensions: 217.6X33X90.2X6X88.4X384.3X281.8X383.9
Parcel#: 1136327042
Parking: 51-100 Spaces
Potential Use: Condominium, Multi-Family
Tenant Pays: Electricity, Heat
Units: 48
Listed By / Shown By
Listed By
Agency Name: RE/MAX At Home
Agency Phone: 847-255-1000
Shown By
Agency Title: Berkshire Hathaway HomeServices Crosby Starck Real Estate
Agency Phone: 815-397-4040
Estimate Your Payment
Estimated Payment
$ 22,353.31 per month $15,578.90 Principal & Interest $4,732.75 Property Tax $2,041.66 Homeowner's InsuranceChange Payment Information
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604-620 E Grant Highway | MLS# 12443014
This multi-family property located at 604-620 E Grant Highway, Marengo, IL 60152 is currently listed for sale with an asking price of $6,999,970. Search Marengo real estate on www.bhhscrosby.com today.