Exceptional 12 unit [ Each with 2 bedroom, 1 Bath] apartment complex with two buildings and a 10 car garage. Located in the heart of Galena and very close to downtown, shopping, schools, hospital and restaurants. Over one acre of land allows room for a third building to be built and still have a massive parking area. New roofs were installed in 2008. Each unit has its own deck or patio and the location is in a very wooded area for great privacy for a complex of this size. Each unit has its own utilities with separate meters. This would allow conversion to a condominium complex if an investor would want this flexibility. All rental numbers included in information sheet are for 610 Elk Street. The rental income for 612 Elk Street is as follows: Unit 1 - $480; Unit 2 - $525; Unit 3 - $545; Unit 4 - $495; Unit 5 - $495; Unit 6 - $515. All of the units are 4 rooms with 2 Bdrms & 1 bath, 930 sq ft., include Ref.& Rng and 1 car garage.
* Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
The Multi-Family (2-4 Units) located at 610-612 Elk, Galena, IL 61036 is currently for sale.
610-612 Elk, Galena is listed for $842,000.
This property has approximately 11,160 square feet.
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