2 S Seminary Ave Mount Morris, IL 61054
Mount Morris AreaEstimated payment $2,505/month
About This Home
12.5% Cap Rate! Excellent investment opportunity! Grow your real estate portfolio with this well-maintained and fully occupied 9-unit apartment building featuring six 2-bedroom, 1-bath apartments and three 1-bedroom, 1-bath apartments. This income-producing property offers plenty of off-street parking, on-site laundry facilities, and long-term tenants, providing stable and consistent cash flow from day one. Each unit is all-electric, with tenants responsible for their own electric bills, including heating and cooking, while the landlord pays water, sewer, garbage, and gas for the hot water heater. Every unit includes a stove and refrigerator, and recent improvements include a newer roof, hot water heater, and sump pump. With 100% occupancy and strong rental appeal, this is an outstanding opportunity for investors looking to expand their portfolio and maximize returns.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,616
Year Built
- Built in 1929
Lot Details
- 15,682 Sq Ft Lot
- Lot Dimensions are 129x123
Interior Spaces
- 2-Story Property
Utilities
- Window Unit Cooling System
- Baseboard Heating
Listing and Financial Details
- The owner pays for trash collection, sewer, water, gas, insurance, taxes, scavenger
Community Details
Overview
- 9 Units
Building Details
- Electric Expense $1,200
- Fuel Expense $1,020
- Insurance Expense $3,300
- Other Expense $1,120
- Trash Expense $2,076
- Water Sewer Expense $2,400
- Operating Expense $8,616
- Gross Income $66,600
- Net Operating Income $46,868
Map
Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/10/2026 08/10/26 | For Sale | $325,000 | +27.5% | -- | |
| 07/25/2023 07/25/23 | Sold | $255,000 | -7.3% | $90 / Sq Ft | View Prior Sale |
| 05/26/2023 05/26/23 | Pending | -- | -- | -- | |
| 05/12/2023 05/12/23 | For Sale | $275,000 | +74.1% | $97 / Sq Ft | |
| 12/30/2020 12/30/20 | Sold | $158,000 | -19.0% | -- | View Prior Sale |
| 10/24/2020 10/24/20 | Pending | -- | -- | -- | |
| 08/04/2020 08/04/20 | For Sale | $195,000 | 0.0% | -- | |
| 07/09/2020 07/09/20 | Pending | -- | -- | -- | |
| 06/08/2020 06/08/20 | For Sale | $195,000 | +89.3% | -- | |
| 10/12/2017 10/12/17 | Sold | $103,000 | -5.5% | $12 / Sq Ft | View Prior Sale |
| 09/12/2017 09/12/17 | Pending | -- | -- | -- | |
| 08/22/2017 08/22/17 | For Sale | $109,000 | -- | $13 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12728844
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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