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1209 N North St 1209 N NORTH ST, PEORIA, IL 61606
Property Description
This 17 unit building is generating great cashflow and has room for renovating/finishing 2 additional 1 Bed/1 Bath units for increasing rents. Currently there are 13 units rented or ready to rent (11 1 bed/1bath units, a 2/2 and 1 studio), two of which are combined smaller units into larger to create the 2 Bed/2 Bath units and one that combined a studio and a 1 bed/1 bath unit. Zoning certificate available to demonstrate legal, non-conforming use for 17 units. All utilities are paid by the owners and tenants pay flat cash rates for rent except for one tenant on PHA/Section 8 voucher. The units could be rented as Section 8/PHA. The 2 units that could be renovated and leased are stripped down and plumbed currently. Owner will consider Seller Financing/Contract for Deed with $150,000 down. Unit photos will be available the week of November 21st. Showings only available on vacant units and units needing renovations without an accepted Letter of Intent/Contract. NOI - $48,920 with potential for more through rent increases and renovating the 2 units!
Highlights
- Room for Renovations for Rent Increases
- Possible Seller Financing
- 13 Units Rented or Ready to Rent
Full Address: 1209 N NORTH ST, PEORIA, IL 61606
Listing Type: FOR SALE
Status: Sold
Zoning: CN
Region: M-EN
Property ID: 4094368
Taxes: $ 5,162
Building Sf: 8,917
Parcel Num: 18-04-306-035
Number Units: 17
Number Buildings: 1
Year Built: 1920
D Principal: $285,918