Basics
- Date added: Added 22 hours ago
- Category: Commercial
- Type: Commercial Sale
- Status: Active
- Year built: 1967
- UnitNumber: 519
- ListOfficeName: eXp Realty
- ListAOR: rmlsa
- MLS ID: RMAPA1265242
Description
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Description:
PART OF A PACKAGE. BUYER MUST ACQUIRE BOTH PARCELS. Unique Investment Opportunity with Multiple Income Streams This offering includes two parcels delivering immediate cash flow and long-term upside. Parcel one includes three multi-unit buildings totaling eight residential units: • 407 Morgan St – 2 units (3 Bed/1 Bath, 1 Bed/1 Bath) • 517 E Monroe – 4 units (four 2 Bed/1 Bath units) • 519 E Monroe – 2 units (2 Bed/1 Bath, 1 Bed/1 Bath) Parcel two features a pay-to-park lot with 49 income-producing parking spaces — a rare, stable revenue component. The apartment portfolio is nearly fully occupied, with one current vacancy already vetted with a qualified new tenant. Most units have been updated, allowing for strong in-place rents. Additional upside comes from value-add potential through an additional unit that can be finished out in one of the apartments. Also, outdoor storage units have an opportunity to further increase NOI. This is a diversified asset combining residential income with parking revenue - ideal for investors seeking both cash flow and growth potential. Seller is only selling this amazing opportunity as a package deal.
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Location
- CountyOrParish: Woodford
- Directions: 116 East, Left on N Niles, Right on E Monroe
Building Details
- NewConstructionYN: No
- Heating: Forced Air, Natural Gas
- Exterior material: Aluminum Siding, Brick, Frame, Vinyl Siding
- Roof: Asphalt, Sloped
Amenities & Features
- Waterfront available: No
- GarageYN: No
- AttachedGarageYN: No
- FireplaceYN: No
- PoolPrivateYN: No
- Cooling: Central Air
