$1,500,000
Est. payment /mo
5,580 SqFt
New
1832 Cleveland BLVD Granite City, IL 62040
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 5,580 sqft
Price per Sqft $268
MLS Listing ID MIS25009018
Year Built 1980
Lot Size 10,001 Sqft
Acres 0.2296
Lot Dimensions 80 x 125
Property Sub-Type 5 Family or More
Property Description
Turnkey Investment with Guaranteed Income & Expansion Potential!
This 12-unit apartment complex is a prime investment opportunity, generating $11,500 in contracted monthly income from Chestnut Health Systems. The tenant handles full property management and rehabs units as needed, ensuring a truly passive income stream for the owner.
The complex consists of 8 one-bedroom units and 4 efficiency units, all fully furnished by the tenant. Additionally, there is a 3,000 sq. ft. basement that is not currently leased, presenting a valuable opportunity for additional income. Second building has 4ft crawl. On-site laundry facilities in the basement provide further convenience and revenue potential.
The owner covers utilities, insurance, and major maintenance, including roof, HVAC, and hot water heaters. Some units have been recently updated with new HVAC systems and hot water heaters. The roof is newer, adding to the long-term stability of this investment.
This 12-unit apartment complex is a prime investment opportunity, generating $11,500 in contracted monthly income from Chestnut Health Systems. The tenant handles full property management and rehabs units as needed, ensuring a truly passive income stream for the owner.
The complex consists of 8 one-bedroom units and 4 efficiency units, all fully furnished by the tenant. Additionally, there is a 3,000 sq. ft. basement that is not currently leased, presenting a valuable opportunity for additional income. Second building has 4ft crawl. On-site laundry facilities in the basement provide further convenience and revenue potential.
The owner covers utilities, insurance, and major maintenance, including roof, HVAC, and hot water heaters. Some units have been recently updated with new HVAC systems and hot water heaters. The roof is newer, adding to the long-term stability of this investment.
Location
State IL
County Madison
Interior
Heating Forced Air, Electric
Cooling Central Air, Electric
Fireplace N
Appliance Gas Water Heater
Laundry Common Area
Exterior
Parking Features false
Building
Sewer Public Sewer
Water Public
Architectural Style Low/1-2
Structure Type Brick
Schools
Elementary Schools Granite City Dist 9
Middle Schools Granite City Dist 9
High Schools Granite City
School District Granite City Dist 9
Others
Ownership Private
Special Listing Condition Standard
Listed by Coldwell Banker Brown Realtors