Seller's Agent in 2025
Nate Evans
eXp Realty-Mahomet
(217) 493-9297
1,762 Total Sales
1740 S Fairview Ave Decatur, IL 62521
69
Beds
65
Baths
12,720
Sq Ft
2.13
Acres
About This Home
As of September 2024Welcome to an exceptional investment opportunity! This fully occupied 65-unit residential property is a testament to prime real estate. Located a mere 1.5 miles from Millikin University, this turnkey profit maker is not only strategically positioned but also renovated, offering an impressive 13% cap rate. The property is professionally managed with a dedicated repair person and leasing manager in place, providing a hassle-free and efficient operation. The strategic location near Millikin University enhances the property's appeal, making it an attractive option for students, faculty, and local residents alike. The robust 13% cap rate underscores the financial viability of this investment, promising a substantial return on your investment. One of the highlights of this property is the secured repair person and leasing manager, ensuring that any maintenance issues are promptly addressed, and vacancies are efficiently filled. This streamlined management approach adds to the property's appeal as a low-maintenance, high-yield investment. An additional profit stream awaits with the completion of the laundry room. Once finalized, this amenity has the potential to further enhance tenant satisfaction and increase rental income, adding even more value to this already lucrative investment. In summary, this 65-unit residential property is not just a sound investment; it's a turnkey profit-making machine. From its prime location near Millikin University to the full occupancy and renovated units, every aspect has been optimized for success. Seize the opportunity to become the proud owner of a property that combines immediate returns with long-term potential. Don't miss your chance to secure a prime piece of real estate in a thriving location!
Last Agent to Sell the Property
eXp Realty-Mahomet License #475124281 Listed on: 02/06/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $36,000
Year Built
- Built in 1900
Lot Details
- 2.13 Acre Lot
Home Design
- Composition Roof
- Vinyl Siding
Interior Spaces
- 12,720 Sq Ft Home
- 3-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 69 Bedrooms
- 65 Bathrooms
Utilities
- Window Unit Cooling System
- Baseboard Heating
Listing and Financial Details
- Tenant pays for varies by tenant
Community Details
Overview
- 65 Units
Building Details
- Electric Expense $15,600
- Insurance Expense $14,400
- Maintenance Expense $14,400
- Other Expense $13,440
- Water Sewer Expense $15,600
- Operating Expense $137,718
- Net Operating Income $361,860
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/11/2025 03/11/25 | Price Changed | $2,350,000 | +900.0% | $185 / Sq Ft |
| 03/11/2025 03/11/25 | For Sale | $235,000 | -90.1% | $18 / Sq Ft |
| 09/25/2024 09/25/24 | Sold | $2,375,000 | -8.7% | $187 / Sq Ft |
| 03/14/2024 03/14/24 | Pending | -- | -- | -- |
| 02/06/2024 02/06/24 | For Sale | $2,600,000 | -- | $204 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Nate Evans
-
Molly Jones
Seller Co-Listing Agent in 2025
Molly Jones
eXp Realty-Mahomet
(217) 493-6200
109 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11975028
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