NOT LISTED FOR SALE
24 Beds
14 Baths
12,416 Sq Ft
1.32 Acres

Last Sold September 06, 2022

Last sale price $850,000 $68 Per Sq Ft

2 Days on Market

About This Home

As of September 2022

Income producer in this brick 14 unit multi-family. Single story look from the front however rear is full exposure. Consists of 10 two bedroom units average rent $693 and 4 one bedroom units average rent $575. There have been many up dates over the recent years. In 2019 the roof was re-shingled, several windows replaced and new water heaters around 2 years ago. Nine of the units have been remodeled with the last 3 years with variations of kitchen, bathroom and flooring upgrades. Low expense building, each tenant covers their electric, gas and heat. Owner has some common area utilities, water and sewer and salvage. Coin operated laundry on site. Each unit includes stove and refrigerator. On site parking and large back yard for tenant enjoyment.

Last Agent to Sell the Property

KENNETH REDEKER

Keller Williams Realty Signature License #471012969 Listed on: 07/03/2022

Keller Williams Realty Signature

Last Buyer's Agent

Jonathan Gieson

RE/MAX of Rock Valley License #475189224

RE/MAX of Rock Valley

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,723

Year Built

  • Built in 1963

Lot Details

  • 1.32 Acre Lot
  • Lot Dimensions are 180x194x360x297

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 12,416 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 14 Bathrooms

Utilities

  • No Cooling
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 14 Units

Building Details

  • Electric Expense $2,400
  • Fuel Expense $600
  • Insurance Expense $3,600
  • Other Expense $1,077
  • Trash Expense $1,800
  • Water Sewer Expense $2,400
  • Operating Expense $34,000
  • Gross Income $110,000
  • Net Operating Income $76,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,723

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Other
  • Stories: 2
  • Year Built: 1963
  • Built Before 1978 (Y/N): Yes
  • Information: Show-Special Instructions
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 14
  • Total Bedrooms: 24
  • Possible Use: Multi-Family
  • Dishwashers: 0
  • Refrigerators: 14
  • Ranges: 14
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick, Wood Frame
  • Foundation Details: Concrete Perimeter
  • Frontage Type: City Street
  • List Price: 882000
  • Roof: Composition
  • Exterior Building Type: Brick
  • Roof Structure: Gable,Hip
  • Misc Outside: Balcony/ies,Patio

Utilities

  • Cooling: None
  • Electric: Circuit Breakers
  • Utilities: Sanitary Sewer, Water-Municipal
  • Heat/Ventilation: Electric

Fee Information

  • Trash Expense: 1800
  • Water Sewer Expenses: 2400
  • Janitor Expense: 2400

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 1.32
  • Lot Dimensions: 180X194X360X297
  • Lot Size Sq Ft: 57336
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 24

Building Info

  • BuildingAreaTotal: 12416

Multi Family

  • Net Operating Income: 76000
  • Fuel Expense: 600
  • Insurance Expense: 3600
  • ElectricExpense: 2400
  • GrossIncome: 110000
  • NumberOfUnitsTotal: 14
  • OperatingExpense: 34000
  • Expense Year: 2021
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 19723
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 3, 2022
Closed on
Sep 2, 2022
Sold by
Amal Equity Partners Llc-East Ridge
Bought by
Rentco Llc
Seller's Agent
KENNETH REDEKER
Keller Williams Realty Signature
Buyer's Agent
Jonathan Gieson
RE/MAX of Rock Valley
List Price
$882,000
Sold Price
$850,000
Premium/Discount to List
-$32,000
-3.63%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,909,125
Outstanding Balance
$4,633,740
Interest Rate
5%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 11, 2021
Sold by
East Ridge Apartments Llc
Bought by
Amal Equity Partners Llc-East Ridge

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
3.1%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jun 8, 2016
Sold by
Land Holding Llc
Bought by
East Ridge Apartments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Interest Rate
3.66%

Purchase Details

Closed on
May 31, 2016
Sold by
Land Holding Llc
Bought by
East Ridge Apartments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Interest Rate
3.66%

Purchase Details

Closed on
Nov 29, 2012
Bought by
Harunani Dental Clinics
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Rentco Llc $850,000 --
Amal Equity Partners Llc-East Ridge $600,000 Law Office Of Mario J Tarara P
East Ridge Apartments Llc -- Mta
East Ridge Apartments Llc -- Mta
Harunani Dental Clinics $400,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rentco Llc $825,000
Open Rentco Llc $4,909,125
Previous Owner Amal Equity Partners Llc-East Ridge $300,000
Previous Owner East Ridge Apartments Llc --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/06/2022 09/06/22 Sold $850,000 -3.6% $68 / Sq Ft
07/07/2022 07/07/22 Pending -- -- --
07/04/2022 07/04/22 For Sale $882,000 -- $71 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $21,103 $222,692 $47,825 $174,867
2023 $20,389 $196,360 $42,170 $154,190
2022 $20,052 $175,509 $37,692 $137,817
2021 $19,724 $160,929 $34,561 $126,368
2020 $19,562 $152,136 $32,673 $119,463
2019 $19,425 $145,002 $31,141 $113,861
2018 $17,023 $118,896 $19,750 $99,146
2017 $16,882 $113,787 $18,901 $94,886
2016 $16,867 $111,655 $18,547 $93,108
2015 $17,079 $111,655 $18,547 $93,108
2014 $11,946 $79,734 $18,549 $61,185
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11453645

Midwest Real Estate Data (MRED)

APN: 12-20-377-007