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301 N Main Ave - 301 N Main Ave, Minier

4 Unit Apartment Building Offered at £305,095 at a 7.97% Net Initial Yield in Minier, IL 61759

Investment Highlights

  • Nestled in the heart of central Illinois lies the charming town of Minier
  • A classic and timeless exterior with its all brick construction, it also offers the convenience of a 4 car garage with workshop and a huge yard!

Executive Summary

Charming FULLY RENTED all brick building that houses 4 units, 3 two bedroom units and 1 one bedroom, each has laundry facilities. A classic and timeless exterior with its all brick construction, it also offers the convenience of a 4 car garage with workshop (use for storage or extra income!) and a huge yard. Plus plenty of off street parking for visitors. But what truly sets this property apart is its impeccable maintenance. From the moment you step inside the welcoming common area, you can see the care and attention that has been put into keeping this building in top shape. Add to your income portfolio by purchasing 4 more units at 301 N Minier Ave

Attachments

301 N Main OM

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income £35,483 £6.00
Other Income - -
Vacancy Loss - -
Effective Gross Income £35,483 £6.00
Taxes £4,016 £0.68
Operating Expenses £7,162 £1.21
Total Expenses £11,178 £1.89
Net Operating Income £24,305 £4.11

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual £35,483
Annual Per SF £6.00
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £35,483
Annual Per SF £6.00
Taxes
Annual £4,016
Annual Per SF £0.68
Operating Expenses
Annual £7,162
Annual Per SF £1.21
Total Expenses
Annual £11,178
Annual Per SF £1.89
Net Operating Income
Annual £24,305
Annual Per SF £4.11

Property Facts

Price £305,095
Price Per Unit £76,274
Sale Type Investment
Net Initial Yield 7.97%
No. Units 4
Property Type Residential
Apartment Style Garden
Lot Size 0.33 AC
Building Size 5,916 SF
Number of Floors 2
Year Built 1966
Parking Ratio 0.68/1,000 SF

Site Amenities

  • Smoke Free

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 3 £744.13 981
1+1 1 £642.31 981

zoning

Zoning Code R1 (Mixed residential)
R1 (Mixed residential)
  • Listing ID: 31430167

  • Date on Market: 05/04/2024

  • Last Updated:

  • Address: 301 N Main Ave, Minier, IL 61759

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