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$ 2,130,000
Est. payment | /mo
0.5 Acres Lot
$ 2,130,000
Est. payment | /mo
0.5 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision West View Add 04
MLS Listing ID 6257557
Year Built 1964
Annual Tax Amount $15,590
Tax Year 2024
Lot Size 0.500 Acres
Acres 0.5
Property Sub-Type Multi Family
Property Description
Introducing a prime multifamily investment opportunity in Decatur, Illinois. The property consists of 35 units across four parcels, featuring four freestanding buildings, including a duplex that contains the superintendent unit.
Constructed between 1964 and 1967, the buildings are a combination of brick, mortar, and frame construction and are zoned B-2 with multifamily permitted use.
The property is located on the far west side of Decatur, near lifestyle amenities including the 180+ acre Fairview Park, nearby bicycle and walking trails, and the campus-town shops and restaurants surrounding Millikin University.
Current ownership has completed select capital improvements, with approximately 25 of the 35 units cosmetically updated, demonstrating measurable rental increases and improved operating performance. Majority of units are two bedrooms.
With additional units remaining to be renovated, the property offers continued value-add potential for investors seeking stable income.
Constructed between 1964 and 1967, the buildings are a combination of brick, mortar, and frame construction and are zoned B-2 with multifamily permitted use.
The property is located on the far west side of Decatur, near lifestyle amenities including the 180+ acre Fairview Park, nearby bicycle and walking trails, and the campus-town shops and restaurants surrounding Millikin University.
Current ownership has completed select capital improvements, with approximately 25 of the 35 units cosmetically updated, demonstrating measurable rental increases and improved operating performance. Majority of units are two bedrooms.
With additional units remaining to be renovated, the property offers continued value-add potential for investors seeking stable income.
Location
State IL
County Macon
Community West View Add 04
Zoning B-2
Interior
Cooling Central Air, Window Unit(s)
Appliance Water Heater
Exterior
Carport Spaces 30
Roof Type Other
Garage No
Building
Story 3
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Decatur Dist 61
Others
Tax ID 04-12-17-254-010
Special Listing Condition None
Listed by Main Place Real Estate