Turnkey 4-Unit Investment Property - Strong Rental Income And Excellent Tenant Appeal! Each 1-bedroom, 1-bathroom unit features a spacious living area and kitchen, providing comfortable living for tenants. The property sits on a generous half-acre lot, allowing for ample outdoor space and accommodating extra-large garage spaces for each tenant-perfect for parking and storage. Recent updates add value and reduce maintenance costs, including some new windows (2019), a new roof (2017), newer carpet in Unit #1, and a newer furnace in Unit #3. With strong rental potential and a prime location, this property is a must-see for investors. One unit can be shown and others are same layout and can be shown if buyer is serious after seeing the first unit. Limited showings available until the property is officially on the market-reach out to for more details. SOLD AS-IS Current rental income: Unit #1 & #4: 800 each Unit #2: 900 Unit #3: 750. Total rental income is 3,250/month.
Multi-familyProperty Type
1958Year Built
0.41 acresLot Size
4 car garageParking
Listed by Todd Klein• Compass
Bought with Joseph Eurek• Dickerson & Nieman Realtors - Rockford
Some new windows in 2019, new roof in 2017. New carpet in Unit #1, newer furnace in Unit #3. Sits on almost a half acre and has appealing spacious yard. Extra deep two 2-car garages for storage. Rents: Unit #1 $525. Unit #2-3-4 currently $500, raising to $525 November 1st.
NWIAR #202106297
Jan 21, 2022
Sold
$205,000
Sep 27, 2021
Listed
$220,000
+5
Some new windows in 2019, new roof in 2017. New carpet in Unit #1, newer furnace in Unit #3. Sits on almost a half acre and has appealing spacious yard. Extra deep two 2-car garages for storage. Rents: Unit #1 $525. Unit #2-3-4 currently $500, raising to $525 November 1st.
Year
Property tax
Land + Additions
Assessment*
2025
$6,625 (+17.6%)
$14,396 + $68,225
$82,621
2024
$5,634 (+4.6%)
$12,920 + $54,716
$67,636
2023
$5,385 (+2.8%)
$12,920 + $54,716
$67,636
2022
$5,238 (+3.7%)
$10,182 + $43,123
$53,305
2021
$5,051 (+8.7%)
$10,556 + $39,542
$50,098
2020
$4,647 (−2.6%)
$9,979 + $37,381
$47,360
2019
$4,770 (−4.3%)
$9,511 + $35,628
$45,139
2018
$4,985 (+3.7%)
$8,964 + $33,577
$42,541
2016
$4,805 (−1.1%)
$8,579 + $32,134
$40,713
2015
$4,861 (−9.9%)
$8,418 + $31,532
$39,950
2013
$5,393 (+2.8%)
$11,180 + $36,445
$47,625
2012
$5,244 (+2.9%)
$11,857 + $38,652
$50,509
2011
$5,097 (+1.6%)
$12,495 + $40,734
$53,229
2010
$5,018 (+4.7%)
$13,151 + $42,873
$56,024
2009
$4,791 (+1.5%)
$13,339 + $43,486
$56,825
2008
$4,721 (+6.2%)
$12,320 + $44,136
$56,456
2007
$4,446
$11,759 + $42,127
$53,886
Tax history for 331 Belteberg Rd
Year
Property tax
Land + Additions
Assessment*
2025
$6,625 (+17.6%)
$14,396 + $68,225
$82,621
2024
$5,634 (+4.6%)
$12,920 + $54,716
$67,636
2023
$5,385 (+2.8%)
$12,920 + $54,716
$67,636
2022
$5,238 (+3.7%)
$10,182 + $43,123
$53,305
2021
$5,051 (+8.7%)
$10,556 + $39,542
$50,098
2020
$4,647 (−2.6%)
$9,979 + $37,381
$47,360
2019
$4,770 (−4.3%)
$9,511 + $35,628
$45,139
2018
$4,985 (+3.7%)
$8,964 + $33,577
$42,541
2016
$4,805 (−1.1%)
$8,579 + $32,134
$40,713
2015
$4,861 (−9.9%)
$8,418 + $31,532
$39,950
2013
$5,393 (+2.8%)
$11,180 + $36,445
$47,625
2012
$5,244 (+2.9%)
$11,857 + $38,652
$50,509
2011
$5,097 (+1.6%)
$12,495 + $40,734
$53,229
2010
$5,018 (+4.7%)
$13,151 + $42,873
$56,024
2009
$4,791 (+1.5%)
$13,339 + $43,486
$56,825
2008
$4,721 (+6.2%)
$12,320 + $44,136
$56,456
2007
$4,446
$11,759 + $42,127
$53,886
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
0.43 Acres
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (2-4 Unit)
County
Winnebago County
APN
1101280025
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 13, 2026.
R1
One-Family Residential District
The R1 one-family residential district is included in this chapter to achieve the following purposes: To reserve appropriately located areas for family living at a reasonable range of population densities consistent with sound standards of public health and safety.; To ensure adequate light, air, privacy and open space for each dwelling.; To protect one-family and two-family dwellings from the congestion and lack of privacy associated with multifamily dwellings.; To provide space for semipublic facilities needed to complement urban residential areas and for institutions that require a residential environment.; To minimize traffic congestion and to avoid the overloading of utilities by preventing the construction of buildings of excessive size in relation to the land around them.; To provide necessary space for off-street parking of automobiles and where appropriate, for off-street loading of trucks.; To protect residential properties from noise, illumination, unsightliness, odors, dust, dirt, smoke, vibration, heat, glare and other objectionable influences.; To protect residential properties from fire, explosion, noxious fumes and other hazards.
Permitted uses
Include but are not limited to:
Housing-Single unit
Property details
Parking
Parking Information
# of Garage Spaces: 4
# of Parking (Total): 4
Parking Features: On Site, Garage Owned, Detached, Garage
Interior
Bathroom Information
# of Baths (Full): 4
Bedroom Information
# of Bedrooms: 4
# of Bedrooms Possible: 4
Interior Features
# of Rooms: 12
Unit Type 1 Information
Floor Number: 1
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
Appliances and Features: Stove,Garage/Space
Security Deposit: 0
Rent: $800
Tenant Pays: Electric,Gas,Heat
Lease Expiration Date: Sunday, February 1, 2026
Unit Type 2 Information
Floor Number: 1
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
Appliances and Features: Stove,Garage/Space
Tenant Pays: Electric,Gas,Heat
Lease Expiration Date: VACAN
Unit Type 3 Information
Floor Number: 1
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
Appliances and Features: Stove,Garage/Space
Rent: $750
Tenant Pays: Electric,Gas,Heat
Lease Expiration Date: Sunday, February 1, 2026
Unit Type 4 Information
Floor Number: 1
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
Appliances and Features: Stove,Garage/Space
Rent: $800
Tenant Pays: Electric,Gas,Heat
Lease Expiration Date: Monday, December 1, 2025
Exterior
Building Information
# Of Units in Building: 4
Age: 61-70 Years
Built Before 1978 (Y/N): Yes
Roof: Asphalt
Construction Materials: Frame
Property Information
Property Type: Two to Four Units
Ownership: Fee Simple
Rebuilt (Y/N): No
Rehab (Y/N): No
Parcel Number: 1101280025
Lot Information
Dimensions: 138X156.5
Lot Size: .25-.49 Acre
Lot Size Source: County Records
Zoning: MULTI
Financial
Tax Information
Tax Annual Amount: $5,385
Tax Year: 2023
Financial Information
Finance Code: Conventional
Special Service Area: N
Utilities
Utility Information
Water Source: Public
Sewer: Public Sewer
Heating & Cooling
Heating: Natural Gas, Forced Air
Location
School Information
Elementary School District: 122
Middle Or Junior School District: 122
High School District: 122
Location Information
Township: Rockford
Corporate Limits: Loves Park
Directions: OFF HWY 251 NORTH OF RIVERSIDE.
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: 0.43 acres
Style: Multi-Family (2-4 Unit)
Year Built: —
Year Renovated: —
County: Winnebago County
APN: 1101280025
Home facts updated by county records on Jul 13, 2026
Other
Listing Information
Holds Earnest Money: Yes
Possession: Closing, Tenant's Rights
Some Photos Virtually Staged?: No
Around this home
Schools
Windsor Elementary School
Public 1-5 • Assigned • 0.8mi
4/10
Harlem Middle School
Public 6-8 • Assigned • 0.6mi
5/10
Harlem High School
Public 9-12 • Assigned • 3.2mi
4/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 101° expected this year, 15 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Loves Park, IL • 61111
Average low and high temperatures (°F)
27
11
36
18
53
31
62
41
71
48
81
61
84
65
80
61
79
55
67
45
48
33
33
19
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 10 hours in
June and 3.6 hours in December, placing it below the
U.S. average for solar exposure.
10 hrs
3.6 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$330,000 – $400,000
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