520 Main ST Pecatonica, IL 61063

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12317390

Year Built 1915

Annual Tax Amount $5,309

Tax Year 2023

Property Sub-Type Multi Family 5+

Property Description

Prime Mixed-Use Investment Opportunity in Pecatonica, IL - This 7-unit property at 520 Main St features two vacant storefronts and five apartments, with only one apartment empty for showing. (three 2-bed/1-bath units, one 1-bed/1-bath unit, and one 3-bed/1-bath unit). The current rent roll is under 3k per month currently with vacancies and low rents in place, with significant upside potential - fully leased and at market rents, the property can generate 6k/month. Both storefronts can be rented for 700-900 each, adding substantial income. The apartment units are leased under market and could all be raised as well. All leases are month to month so rents could be easily raised with a 30 day notice. In the past year, there has also been a brand new furnace and water heater put in. The building is entirely separately metered, keeping expenses low and operations efficient. Priced at 400k, with the upside, this is a fantastic value-add opportunity with strong cash flow potential in a historic community.

Location

State IL

County Winnebago

Area Pecatonica

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Level or Stories 2

Listed by Mohammad Fatani • Realty One Group Excel

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106