Price reduction! Great multifamily value-add opportunity in the Rockford River District. This solid brick residential commercial building is in the path of progress with several larger projects going on in the area. The building consists of 9 units with five one bedroom and four studio apartments. The roof is in good condition and the interior work has been started with some newer windows and doors. Situated back away from busy N Church St providing privacy to the residents with parking and yard. At this purchase price there is plenty room in the rehab budget to stay under 25,000 per unit. With the potential rent income of $425 and $525 per unit, the numbers work. Plus, there is the opportunity for more income with coin laundry or even additional paid parking. Motivated seller.
|Elementary school: District 205-RFD|
|Middle school: District 205-RFD|
|High school: District 205-RFD|
|School district: Rockford 205|
|Parking spaces: 6|
|Units in building(s): 9|
|Tax year: 2017|