This 4,500 Square Foot, Six unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself, has undergone significant updating, including a new roof and all new siding in 2021. All six units have been renovated. With updates like multiple new HVAC systems and water heaters. the sale also includes an additional parcel to the west, with the potential to rebuild another six-unit structure on the site where a previous building stood. Prospective buyers should explore grant programs that may support this rebuilding opportunity, adding further value to the property. This is an ideal opportunity for investors looking for a property with minimal initial maintenance and significant growth potential. "Professional photography was taken prior to units being occupied"
Multi-familyProperty Type
1993Year Built
9,150 sq ftLot Size
$134Price/Sq.Ft.
6 spacesParking
Listed by Kyle Killebrew• The Real Estate Group, Inc.
This 4,500 square foot, six-unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself has undergone significant updating including a new roof & all-new siding in 2021. Five of the six units have been fully renovated since 2021, with updates like multiple new HVAC systems & water heaters. One unit is intentionally vacant and was just remodeled, making it ready to show & rent. The sale also includes an additional parcel to the west, with the potential to rebuild another six-unit structure on the site where a previous building stood. Prospective buyers should explore grant programs that may support this rebuilding opportunity, adding further value to the property. This is an ideal opportunity for investors looking for a property with minimal initial maintenance and significant growth potential. Do Not Disturb Tenants. Only the vacant unit can be shown.
RENT. #1
Dec 6, 2022
Rental Removed
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RMLSA as Distributed by MLS Grid #CA1004788
Mar 18, 2021
Sold
$205,000
$74/sq ft
Jan 28, 2021
Listed
$205,000
$74/sq ft
2500 sqft apt building with six 2BR/1BA Units.
As the MLS and public records start to fill up, we'll list the details here.
Public record
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Style
Multi-Family (5+ Unit)
County
Sangamon County
APN
14-22.0-401-019
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Last updated by owner on May 25, 2023.
Historical weather
Springfield, IL • 62702
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Sun exposure
100/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
11.1 hrs
6.9 hrs
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Provided by Shadowmap
Redfin Estimate for 824 E Ridgely Ave
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