902 Linden Street, Delavan, IL

12.95% return

SP: $285,000

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Property Description

Amazing investment!! Great curb appeal!

8 units in IL. High quality construction. Separate electric meters. On-site coin laundry. The residents of this community enjoy the amenities of rural living but in close proximity to the bigger city life. Just five miles from I-155 and less than 60 miles driving distance to the larger central Illinois cities of Peoria, Bloomington and Springfield. Property will generate a 12.95% net return on investment!!

Property managment and financing available!

Property Information

Listing statusSold
Property typeMulti Family
Total units8
Total bedrooms8
Total bathrooms8
Building size7874 sq. ft.
Lot size1.0 acres
Year built1996

CountyTazewell County
SubdivisionHall & Lafevers Add
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWindow Unit
CoolingWindow A/C

Property Financial Summary

Sale price$285,000
Estimated rehab¹$0
Total investment$285,000

TypeProforma

Gross income (annually)$54,560
Operating expenses (annually)$17,651
Net income (annually)$36,909
Gross return19.14%

Gross income (monthly)$4,547
Operating expenses (monthly)$1,471
Net income (monthly)$3,076
Net return12.95%

Property Income & ExpensesMonthlyAnnual

Income

Laundry Income$347/month$4,160/year
Unit 1: 1 bed / 1 bath$525/month$6,300/year
Unit 2: 1 bed / 1 bath$525/month$6,300/year
Unit 3: 1 bed / 1 bath$525/month$6,300/year
Unit 4: 1 bed / 1 bath$525/month$6,300/year
Unit 5: 1 bed / 1 bath$525/month$6,300/year
Unit 6: 1 bed / 1 bath$525/month$6,300/year
Unit 7: 1 bed / 1 bath$525/month$6,300/year
Unit 8: 1 bed / 1 bath$525/month$6,300/year
Total$4,547/month$54,560/year

Expenses

Property Taxes$764/month$9,167/year
Property Management$388/month$4,656/year
Maintenance reserve$194/month$2,328/year
Insurance (estimated)$100/month$1,200/year
Lawn care$25/month$300/year
Total$1,471/month$17,651/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.