$ 6,999,970
604-620 E Grant HWY Marengo, IL 60152
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$ 6,999,970
Est. payment | /mo
49,680 SqFt
$ 6,999,970
Est. payment | /mo
49,680 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 49,680 sqft
Price per Sqft $140
MLS Listing ID 12163819
Maintenance Fees $12,000
Year Built 1978
Annual Tax Amount $56,793
Tax Year 2022
Lot Size 2.420 Acres
Lot Dimensions 217.6X33X90.2X6X88.4X384.3X281.8X383.9
Property Description
**Incredible Investment Opportunity!** This fully occupied apartment complex features long-term tenants with current rents significantly below market value, offering substantial potential for income growth. Recent updates include a newer roof (2019) and brand-new windows and patio doors (2023). The property consists of two garden-style, two-story buildings totaling 48 units: 36 two-bedroom and 12 one-bedroom apartments, each with separate utilities. The two-bedroom units in Building 620 include in-closet washers and dryers. Additionally, there is a one-story structure between the buildings that serves as an office and storage space. With 85 paved parking spaces, this property is not only a strong rental investment but also presents an excellent condo conversion opportunity. Don't miss this chance to capitalize on a fantastic income-producing asset with significant growth potential!
Location
State IL
County Mchenry
Area Harmony / Marengo
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Roof Type Composition
Building
Dwelling Type Multi Family 5+
Level or Stories 2
Structure Type Brick,Block
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Basel Tarabein • RE/MAX At Home
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "