506 S WALNUT ST Pending Save Request In-Person Tour Request Virtual Tour
Springfield,IL 62704
Key Details
Property Type Single Family Home
Sub Type Residential Income
Listing Status Pending
Purchase Type For Sale
Square Footage 3,236 sqft
Price per Sqft $56
MLS Listing ID CA1031314
Year Built 1923
Annual Tax Amount $2,532
Tax Year 2023
Property Description
This four-unit investment property in the heart of Springfield offers strong income potential and a prime location near the medical district, downtown, and state buildings?perfect for attracting renters from these communities. The property consists of one main floor unit, two second-floor units, and a fourth unit on the finished third floor, each featuring 2 bedrooms, 1 bath, and a formal living space. Tenants pay for gas and electric (separately metered), while the landlord covers water and trash. The first-floor unit currently rents for $830/month on a month-to-month lease. Two of the three furnaces are new within the last five years, with central air in the first and third floors, and window AC on the second floor. The roof is approximately 7-8 years old. The property includes one parking space in front and additional parking in the back. Whether you?re looking to maximize rental income or live in one unit while renting out the others, this well-maintained property in a desirable area presents a fantastic investment opportunity.
Location
State IL
County Sangamon
Area Springfield
Interior
Heating Heating Systems - 2+,Forced Air,Gas,Central Air,Window Unit(s)
Laundry None
Exterior
Exterior Feature Fence
View true
Roof Type Shingle
Building
Lot Description Level
Foundation Brick
Water Public Sewer,Public
Structure Type Other
New Construction false
Schools
High Schools Springfield District #186