818-20 S 8th ST Active Save Request In-Person Tour Request Virtual Tour
Quincy,IL 62301
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12277252
Bedrooms 4
Full Baths 4
Annual Tax Amount $1,688
Tax Year 2023
Lot Size 6,534 Sqft
Lot Dimensions 60.5 X 112.5
Property Sub-Type Two to Four Units
Property Description
Excellent investment opportunity with this updated 4-unit property on S. 8th Street. This multi-family building offers a unique chance for an owner-occupant to live in one unit while generating rental income from the others, making it an ideal entry into real estate investing. Key features: * Potential Gross monthly rent of $2,050 ($24,600 / year) * 4 units, each with 1 bedroom and 1 bath * 3 units recently updated with modern plank flooring and fresh paint * 1 unit occupied by a long-term tenant * Garage (currently unrented) and off-street parking * Recent exterior improvements: tuckpointing and new paint * Separate electric & gas meters * 2 x month to month leases Perfect for first-time investors: * One vacant unit available for immediate owner occupancy * Option to lease vacancy to a non profit for $600 / month on 12 month lease * Collect rent from other tenants to offset mortgage costs * Gain valuable landlord experience while building equity * Excellent starting point for a rental property portfolio Additional benefits: * Down Payment Assistance available for eligible buyers * Potential for increased rental income by leasing the garage and signing new leases for at-will tenants. Great building for new or experienced investors. 'other' roof is Rolled 2 furnaces, 4 water heaters, both gas, Separate Electric Meters, Separate Gas Meters, HiSpd Intrnt Fiber Avail
Location
State IL
County Adams
Area Quincy
Zoning COMMR
Rooms
Basement Partial
Interior
Heating Forced Air
Equipment Water Heater-Gas
Fireplace N
Exterior
Parking Features Detached
Garage Spaces 1.0
Building
Dwelling Type Two to Four Units
Water Public
New Construction false
Schools
Elementary Schools Lincoln-Douglas
High Schools Quincy