213 W Walnut St
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213 W Walnut St
15 Unit Block of Flats £293,737 (£19,582/Unit) Watseka, IL 60970
Investment Highlights
- Historically significant building
- Various business options possible
- Conveniently located
- New roof; new windows & screens; new furnace
Executive Summary
BEST INVESTMENT OPPORTUNITY in a famous historical building in downtown Watseka! This 14-unit apartment hybrid has a new roof, new windows & screens, and new furnace (transferable warranties). Most of the apartments are on the top floor; there are laundry facilities on the 2nd floor, and a very cool theater on the main floor - which could be converted into retail space. [The building has central air, but tenants can rent window units, as well.] This renowned structure was established by the Railroad Company as a theater & hotel for its employees - it has many beautiful architectural features, as well as modern comforts. A steady source of income and a UNIQUE PROSPECT - come and see! *See zoning notes in broker remarks.*NOI (not including taxes) is $102,354 which gives a cap rate of 27.2%. Loopnet will not post higher than 25%*
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£92,976
|
£9.92
|
| Other Income |
£2,820
|
£0.30
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£95,796
|
£10.22
|
| Taxes |
£1,352
|
£0.14
|
| Operating Expenses |
£15,622
|
£1.67
|
| Total Expenses |
£16,974
|
£1.81
|
| Net Operating Income |
£78,822
|
£8.41
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £92,976 |
| Annual Per SF | £9.92 |
| Other Income | |
|---|---|
| Annual | £2,820 |
| Annual Per SF | £0.30 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £95,796 |
| Annual Per SF | £10.22 |
| Taxes | |
|---|---|
| Annual | £1,352 |
| Annual Per SF | £0.14 |
| Operating Expenses | |
|---|---|
| Annual | £15,622 |
| Annual Per SF | £1.67 |
| Total Expenses | |
|---|---|
| Annual | £16,974 |
| Annual Per SF | £1.81 |
| Net Operating Income | |
|---|---|
| Annual | £78,822 |
| Annual Per SF | £8.41 |
Property Facts
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Furnished Units Available
- Vintage Building
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 15 | £524.81 | - |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | £33,123 | |
| Land Assessment | £13,618 | Annual Taxes | £1,352 (£0.14/sf) |
| Improvements Assessment | £19,505 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£13,618
Improvements Assessment
£19,505
Total Assessment
£33,123
Annual Taxes
£1,352 (£0.14/sf)
Tax Year
2023
zoning
| Zoning Code | R-2 (R-2 Single Family (Walnut St is zoned B-1 & B-2 everywhere EXCEPT the 200 block, which is zoned R-2 Single Family).) |
| R-2 (R-2 Single Family (Walnut St is zoned B-1 & B-2 everywhere EXCEPT the 200 block, which is zoned R-2 Single Family).) |
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213 W Walnut St
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