818 - 820 S 8TH ST Active Save Request In-Person Tour Request Virtual Tour
Quincy,IL 62301
Key Details
Property Type Single Family Home
Sub Type Residential Income
Listing Status Active
Purchase Type For Sale
Square Footage 3,190 sqft
Price per Sqft $54
MLS Listing ID QC4259981
Maintenance Fees $1,500
Annual Tax Amount $1,688
Tax Year 2023
Property Sub-Type Residential Income
Property Description
Excellent investment opportunity with this updated 4-unit property on S. 8th Street. This multi-family building offers a unique chance for an owner-occupant to live in one unit while generating rental income from the others, making it an ideal entry into real estate investing. Key features: * Potential Gross monthly rent of $2,050 ($24,600 / year) * 4 units, each with 1 bedroom and 1 bath * 3 units recently updated with modern plank flooring and fresh paint * 1 unit occupied by a long-term tenant * Garage (currently unrented) and off-street parking * Recent exterior improvements: tuckpointing and new paint * Separate electric & gas meters * 2 x month to month leases Perfect for first-time investors: * One vacant unit available for immediate owner occupancy * Option to lease vacancy to a non profit for $600 / month on 12 month lease * Collect rent from other tenants to offset mortgage costs * Gain valuable landlord experience while building equity * Excellent starting point for a rental property portfolio Additional benefits: * Down Payment Assistance available for eligible buyers * Potential for increased rental income by leasing the garage and signing new leases for at-will tenants. Great building for new or experienced investors.
Location
State IL
County Adams
Area Qcara Area
Interior
Heating Gas,Window Unit(s)
Laundry None
Exterior
View true
Roof Type Composition
Building
Lot Description Level
Foundation Stone
Water Public Sewer,Public
Structure Type Brick,Stone
New Construction false
Schools
High Schools Quincy School District #172