Income producing investment property! Very well built and well maintained 14 unit rental complex. Property consists of 14 rental apartments all in one brick building. Lower level is made up of four ranch style single story 3 bedroom, 1 bathroom apartments just under 1200 square feet each. The top two stories are divided into ten two level townhouse apartments. Each of these has 2 bedrooms and 1.5 baths just under 1000 square feet each. The two bedroom units have a full bath and both bedrooms in the upstairs with kitchen, dining, living room and half bath on the downstairs floor. All 14 apartments have been well maintained and kept up over the years with renovations. One lower level 3 bedroom apartment is being remodeled currently and will have all new floors, paint and bathroom. Utilities are separate for each unit. Building is all electric with no gas and has electric radiant heat in the ceilings. Some units are currently running on central air and some have been switched to window units. All duct work and material is still present if central air was put back into the units running on window A/C. Roof is 11 years old on 20 year shingles and exterior of the building is in great condition (built in 1975). Currently, 12 units are occupied and once renovation of the 3 bedroom apartment is complete monthly income from 13 of 14 apartments will be $5,430. The final apartment is being used by the seller currently as an Airbnb rental. They have nearly the remainder of the year booked out and are making $6,000 per year off it. Monthly expenses are currently at $1,175 including internet, water, trash, property tax and insurance. Current owner is netting approximately $57,000 per year on the property. Their average monthly rental at $425 per unit is low for the area and could easily be increased. All apartments (besides the Airbnb) are on a month to month lease with payment due first of the month. Property is only 35 minutes from Springfield, 15 minutes from Jacksonville and 15 minutes from Beardstown. There are many companies and factories nearby for job opportunities and renters.
;
;
;
;
;
;
;
;