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$ 165,000
Est. payment | /mo
3 Beds
2 Baths
7,405 Sqft Lot
$ 165,000
Est. payment | /mo
3 Beds
2 Baths
7,405 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12740729
Style Traditional
Bedrooms 3
Year Built 1910
Annual Tax Amount $3,226
Tax Year 2025
Lot Size 7,405 Sqft
Lot Dimensions 50X150
Property Sub-Type Two to Four Units
Property Description
Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.
Location
State IL
County Kankakee
Area Kankakee
Rooms
Basement Unfinished, Full
Interior
Heating Natural Gas
Fireplace N
Exterior
Exterior Feature Balcony
Roof Type Asphalt
Building
Dwelling Type Two to Four Units
Building Description Vinyl Siding, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Vinyl Siding
New Construction false
Schools
School District 111 , 111, 111
Others
Ownership Fee Simple
Special Listing Condition Standard
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Listed by Fawad Shahid of Carnelian Realty Group
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