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506 S Walnut Street

Springfield, IL 62704
  • $182,500
  • STATUS: Active
  • ON SITE: 77 Days
  • ID#: CA1031314
UPDATED: 34 min ago
$182,500
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:
Area:

School Information

Description

This four-unit investment property in the heart of Springfield offers strong income potential and a prime location near the medical district, downtown, and state buildingsperfect for attracting renters from these communities. The property consists of one main floor unit, two second-floor units, and a fourth unit on the finished third floor, each featuring 2 bedrooms, 1 bath, and a formal living space. Tenants pay for gas and electric (separately metered), while the landlord covers water and trash. The first-floor unit currently rents for $830/month on a month-to-month lease. Two of the three furnaces are new within the last five years, with central air in the first and third floors, and window AC on the second floor. The roof is approximately 7-8 years old. The property includes one parking space in front and additional parking in the back. Whether you're looking to maximize rental income or live in one unit while renting out the others, this well-maintained property in a desirable area presents a fantastic investment opportunity.

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© 2024 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Kathy Garst Sales Team | The Real Estate Group. Data last updated: 2024-11-07T11:45:41.157.
www.kathygarst.com/homes/153891454
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506 S Walnut Street Springfield, IL 62704

  • Price: $182,500
  • Status: Active
  • On Site: 77 Days
  • Updated: 34 min ago
  • ID#: CA1031314
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1923
Built
Neighborhood:
None
County:
Sangamon
Area:
Springfield
High School:
Springfield District #186
Property Description
This four-unit investment property in the heart of Springfield offers strong income potential and a prime location near the medical district, downtown, and state buildingsperfect for attracting renters from these communities. The property consists of one main floor unit, two second-floor units, and a fourth unit on the finished third floor, each featuring 2 bedrooms, 1 bath, and a formal living space. Tenants pay for gas and electric (separately metered), while the landlord covers water and trash. The first-floor unit currently rents for $830/month on a month-to-month lease. Two of the three furnaces are new within the last five years, with central air in the first and third floors, and window AC on the second floor. The roof is approximately 7-8 years old. The property includes one parking space in front and additional parking in the back. Whether you're looking to maximize rental income or live in one unit while renting out the others, this well-maintained property in a desirable area presents a fantastic investment opportunity.
Exterior Features

Construction Materials Other Exterior Features Fence Parking Features Alley AccessOther Parking Total 4 Road Surface Type Paved Roof Shingle

Interior Features

Basement FullUnfinished Building Area Total 3236 Heating Heating Systems - 2+Forced AirGasCentral AirWindow Unit(s) Interior Features Cable Available Laundry Features None Number Of Central Air Units 2 Number Of Dishwashers 1 Number Of Dryers 0 Number Of Electric Meters 4 Number Of Gas Meters 4 Number Of Heating Units 3 Number Of Ranges 4 Number Of Washers 0 Number Of Water Heaters 3 Numberof Refrigerators 4

Property Features

100 Year Plain Unknown Agent Owned No Disclosed Short Sale N Financing Cash OnlyConventionalOther Gross Income 0 Insurance Expense 0 Lease Term Month To Month Lot Features Level Lot Size Dimensions 228 x 42 Manager On Site YN No Net Operating Income -2533 New Construction YN No Number Of Water Meters 1 Number Of Window Units 1 Operating Expense 0 Repossessed No Structure Type Two or More StoryConversion Tax Annual Amount 2532.72 Tax Legal Description L 22 James Browns 2nd Addn. Tax Year 2023 Tenant Pays Gas & Electric Trash Expense 0 Type Residential Income Virtually Stage YN No Water Source Public SewerPublic

Listing provided courtesy of Kyle Killebrew of The Real Estate Group, Inc.: Mobl: 217-741-4040.
© 2024 RMLS Alliance, LLC. All Rights Reserved.


© 2024 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Kathy Garst Sales Team | The Real Estate Group. Data last updated: 2024-11-07T11:45:41.157.
 
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Kathy Garst Sales Team | The Real Estate Group
3701 W. Wabash Ave
Springfield IL, 62711