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Don't miss the opportunity to purchase this investment property downtown Leland. Current cash flow yields an incredible 12% cap rate. The property is made up of three buildings comprising 11,726 sf. Featuring 10 apartments 7 of which are leased (3 two bedroom and 4 one bedroom) as well as 3 retail spaces. Two of the apartments were just updated including flooring, kitchens/appliances and bathrooms. Two apartments have new windows as well. Past uses for first floor retail that could be revitalized include tea room with kitchen, beauty shop, dentists office and soda shop. The first floor can also be repurposed as office or a variety of other uses. There is potential for the right buyer to increase this to 17% with a fully leased building. Other recent improvements include two updated electrical panels, new porch in back and a new coin op washing machine. The electricity for the apartments is separately metered. The building is on boiler heat. One apartment has its own furnace with separately metered gas. Additional income comes from a coin operated washer and dryer. Call for a confidential rent roll.
| DAYS ON MARKET | 131 | LAST UPDATED | 3/31/2023 |
|---|---|---|---|
| YEAR BUILT | 1905 | COMMUNITY | Baker / Leland |
| COUNTY | La Salle | STATUS | Sold |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AIR | Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Baker / Leland |
| LOT DIMENSIONS | 79.5X94.5X24.5X99X50X193 |
| TAXES | 4446 |
| UTILITIES | Circuit Breakers, Service - 201 to 600 Amps |
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Listed with Coldwell Banker Real Estate Group
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of MRED. All real estate listings are marked with the Broker ReciprocitySM logo or the MRED Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2023 MRED. All rights reserved.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2023 MRED. All rights reserved.
This IDX solution is (c) Diverse Solutions 2023.