Estimated payment $15,232/month
About This Home
Currently fully occupied 24-unit, this building has 76 new windows, 16 new sliding doors, all new steel siding costing over 100K, many apartments have updated plumbing. Water heater is from 2018, building is fully turn key, most units are updated/renovated. Monthly rent roll is just over $20k with a lot more room for growth and potential. Only 5 minutes to I-39, I-90, and US20, and in the hottest market in the US. Rents should be $1200 for 2 bedroom units and $1100 for 1 bedroom units, building should be producing $30k proforma, without doing much work. Not many buildings like this for sale in Rockford! SHOWING WILL BE SATURDAY 1/17 AT 3:30 PM
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $27,000
Year Built
- Built in 1970
Lot Details
- 1.82 Acre Lot
Home Design
- Garden Apartment
- Flat Roof Shape
- Brick Exterior Construction
- Rubber Roof
- Steel Siding
- Concrete Perimeter Foundation
Interior Spaces
- 21,516 Sq Ft Home
- 3-Story Property
Utilities
- Forced Air Heating and Cooling System
- Cooling System Mounted In Outer Wall Opening
- Heating System Uses Gas
- 120/240V
Community Details
Overview
- 24 Units
Building Details
- Electric Expense $1,500
- Insurance Expense $11,000
- Maintenance Expense $5,000
- Other Expense $4,000
- Trash Expense $4,500
- Water Sewer Expense $14,000
- Operating Expense $67,000
- Gross Income $245,000
- Net Operating Income $178,000
Home Values in the Area
Average Home Value in this Area
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 | $27,000 | $281,508 | $31,151 | $250,357 |
| 2023 | $24,520 | $233,426 | $28,011 | $205,415 |
| 2022 | $25,423 | $219,902 | $26,388 | $193,514 |
| 2021 | $25,903 | $209,132 | $25,096 | $184,036 |
| 2020 | $26,019 | $200,241 | $24,029 | $176,212 |
| 2019 | $25,819 | $190,851 | $22,902 | $167,949 |
| 2018 | $21,712 | $150,874 | $22,302 | $128,572 |
| 2017 | $21,902 | $146,423 | $21,644 | $124,779 |
| 2016 | $21,822 | $143,327 | $21,186 | $122,141 |
| 2015 | $21,696 | $140,696 | $20,797 | $119,899 |
| 2014 | $20,455 | $140,696 | $20,797 | $119,899 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/11/2026 01/11/26 | For Sale | $2,500,000 | -- | $116 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $1,500,000 | First American Title | |
| Special Warranty Deed | $1,500,000 | First American Title | |
| Deed | $1,025,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,200,000 | New Conventional | |
| Closed | $1,200,000 | New Conventional |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12538449
APN: 16-05-105-006
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