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613 S 16th St

4 Unit Block of Flats £101,751 (£25,438/Unit) 17% Net Initial Yield Mount Vernon, IL 62864

Executive Summary

Value Add Quad!!!
Solid brick construction. 2 x 2bed/1bath and 2 x 1bed/1bath. INSANE RENTAL COMPS!!! Needs TLC. Beautiful area. Tons of potential and upside. Will generate a 17%+ NET RETURN ON INVESTMENT!! $80,000 INSTANT EQUITY!!!
Professional management and financing is available.

Attachments

Flyer 613 South 16th Street, Mount Vernon, IL

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income £22,627 £7.81

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual £22,627
Annual Per SF £7.81

Property Facts

Price £101,751 Building Class C
Price Per Unit £25,438 Lot Size 0.20 AC
Sale Type Investment Building Size 2,897 SF
Net Initial Yield 17% Number of Floors 2
No. Units 4 Year Built 1940
Property Type Residential Parking Ratio 1.38/1,000 SF
Property Subtype
Apartment
  • Multifamily Manufactured Housing Mobile Home Park
  • Multifamily Dormitory
 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Mid Rise
Price £101,751
Price Per Unit £25,438
Sale Type Investment
Net Initial Yield 17%
No. Units 4
Property Type Residential
Property Subtype
Apartment
  • Multifamily Manufactured Housing Mobile Home Park
  • Multifamily Dormitory
Apartment Style Mid Rise
Building Class C
Lot Size 0.20 AC
Building Size 2,897 SF
Number of Floors 2
Year Built 1940
Parking Ratio 1.38/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 2 £704.97 -
1+1 2 £626.64 -

Links

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PROPERTY TAXES

Parcel Number 07-31-276-009 Improvements Assessment £17,618 (2023)
Land Assessment £1,785 (2023) Total Assessment £19,403 (2023)

PROPERTY TAXES

Parcel Number
07-31-276-009
Land Assessment
£1,785 (2023)
Improvements Assessment
£17,618 (2023)
Total Assessment
£19,403 (2023)

zoning

Zoning Code MULTI-FAMILY
MULTI-FAMILY
(754) 251-0201

Contact

  • Listing ID: 33598872

  • Date on Market: 22/10/2024

  • Last Updated:

  • Address: 613 S 16th St, Mount Vernon, IL 62864

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© 2024 CoStar Group

613 S 16th St
(754) 251-0201 x

613 S 16th St

Chris Murray

(754) 251-0201

(754) 251-0201

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