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Income And Cash Flowing Property 8305 North North Solon Road, Richmond, IL 60071
Property Description
This property offers a prime investment opportunity with strong rental income potential. It includes five rental units across two separate buildings, plus a large 24 x 40 detached garage, all nestled on a wooded one-acre lot. The first building was rebuilt in the early 2000s and contains two spacious units, each featuring two bedrooms, a full bathroom, and a full basement. The second building houses three units: a one-bedroom unit with a kitchen and full bath, a studio unit with its own kitchen and full bath, and an upper-level unit offering two bedrooms, a kitchen, and a full bathroom. Additionally, the detached garage provides an extra stream of rental income.
Area Description
Rural setting yet minutes from downtown Richmond.
Full Address: 8305 North North Solon Road, Richmond, IL 60071
Listing Type: FOR SALE
Status: Active
Occupancy Rate: 100
Zoning: Res
Region: M-EN
County: McHenry County
Property ID: 4040126
Has Water: Yes
Has Electric: Yes
Has Waste: Yes
Heating: Yes
Has Gas: Yes
Number Units: 5
Number Buildings: 2
Year Built: 1948
Free Standing: Yes
Tenancy Type: Multi-Tenant
Average Monthly Rent - Main House first floor/Second floor renters: 1800
Average Monthly Rent - Second house 1st floor renter, studio first floor , second floor renter: 2400
Average Monthly Rent - Garage: 600