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.
Great investment opportunity. This 6 unit apartment building is located on Park Avenue right across the street from the Galena bridge. Three of the four 2 bedroom units currently receive $550 per month in rent and the other 2 bedroom unit is currently receiving $525 per month. The two 1 bedroom units receive $325 per month. The annual income is $33,900. The landlord pays for water and garbage which is approximately $275 per month, plus $100 every six months to rent the dumpster. The electric is split and every unit has its own furnace. Hallway lighting electricity cost is around $30 per month.