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.
(ds11) Wonderful location! Very short walk to the walking bridge to downtown Galena! This apartment building is in a very desirable location next to Grant Park and often is re-rented just from referrals. The once Strohmeyer Boot Factory - Listed in the National Register of Historic Landmarks is wonderful maintained historical building. All of the apartments have high efficiency hot water radiant heat (Munchkin Boilers). Each apartment has its own washer and dryer, fridge, range, window air conditioners, ceiling fans. 3 Units have 2nd level bay windows overlooking the park. All floors on the first floor have been replaced in the last 4 years. Each unit has their own utility meters / Tenants pay their own utilities. A covered back porch runs the full length of the building. Tandem 2 car garage sit adjacent to the building also property has one of the last existing brick paved road in Galena. They have experienced 100% occupancy during the 7 to 8 years that they have owned it. Annual Rent income is $32,400 Note: One large apartment 2600SF 3 BR/2Bath - townhome design - would make a great owner's residence - then rent the remaining 3 apartments for a monthly income. Or the large apartment could be divided once again into the 5th apartment. You can't go wrong with this investment! Scheduled 24 hour notice appointments are required for viewing.
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.
Attractive, well maintained Historic brick four-plex in Galena's "Quality Hill" neighborhood with lovely front covered balcony shared by two apartments. All 4 spacious apartments have 2 bedrooms, separate meters, laundry hook-ups, and private rear enclosed 3 season porches. Three units have central air, while the 3rd has window ac provided by owner. Sited on nicely landscaped double lot adjacent to the Old City Cemetery Park. Street level area has two storage areas that could also be rented.