1832 Cleveland BLVD Active Save Request In-Person Tour Request Virtual Tour
Granite City,IL 62040
Key Details
Property Type Multi-Family
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 5,580 sqft
Price per Sqft $268
MLS Listing ID 25009018
Year Built 1980
Building Age 45
Lot Size 10,001 Sqft
Property Sub-Type Multi-Family 5+
Property Description
Turnkey Investment with Guaranteed Income & Expansion Potential!
This 12-unit apartment complex is a prime investment opportunity, generating $11,500 in contracted monthly income from Chestnut Health Systems. The tenant handles full property management and rehabs units as needed, ensuring a truly passive income stream for the owner.
The complex consists of 8 one-bedroom units and 4 efficiency units, all fully furnished by the tenant. Additionally, there is a 3,000 sq. ft. basement that is not currently leased, presenting a valuable opportunity for additional income. Second building has 4ft crawl. On-site laundry facilities in the basement provide further convenience and revenue potential.
The owner covers utilities, insurance, and major maintenance, including roof, HVAC, and hot water heaters. Some units have been recently updated with new HVAC systems and hot water heaters. The roof is newer, adding to the long-term stability of this investment.
Location
State IL
County Madison-il
Interior
Heating Forced Air
Cooling Electric
Laundry Common Laundry
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Granite City Dist 9
Middle Schools Granite City Dist 9
High Schools Granite City
School District Granite City Dist 9
Others
Acceptable Financing Cash Only,Conventional
Listing Terms Cash Only,Conventional
Special Listing Condition No Exemptions,None