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$ 1,475,000
Est. payment /mo
New
1832 Cleveland BLVD Granite City, IL 62040
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25042611
Year Built 1980
Acres 0.2296
Property Description
Turnkey Investment with Guaranteed Income & Expansion Potential! This 12-unit apartment complex is a prime investment opportunity, generating $11,500 in contracted monthly income. The tenant handles full property management and rehabs units as needed, ensuring a truly passive income stream for the owner. The complex consists of 8 one-bedroom units and 4 efficiency units, all fully furnished by the tenant. Additionally, there is a 3,000 sq. ft. basement that is not currently leased, presenting a valuable opportunity for additional income. Second building has 4ft crawl. On-site laundry facilities in the basement provide further convenience and revenue potential. The owner covers utilities, insurance, and major maintenance, including roof, HVAC, and hot water heaters. Some units have been recently updated with new HVAC systems and hot water heaters. The roof is newer, adding to the long-term stability of this investment. Listing is a duplicate of MLS #25009018.
Location
State IL
County Madison
Interior
Heating Forced Air
Cooling Central Air, Electric
Flooring Tile
Fireplace N
Appliance Electric Cooktop, Free-Standing Refrigerator, Water Heater
Laundry In Basement
Exterior
Fence Wrought Iron
Utilities Available Electricity Available
Building
Water Public
Structure Type Brick
Others
Ownership Private
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Angela Judd-Uram • Coldwell Banker Brown Realtors