Alexander Apartments 2222-2232 Alexander St 6 Unit Apartment Building $285,500 ($47,583/Unit) 10.77% Cap Rate Granite City, IL 62040

Hello Fellow Investors!! I am Rob Russell, I have owned, 2222/2232 Alexander Street | Granite City, Illinois
Six-unit income-producing investment property for 21 years. I am approaching 65 years of age, while Real Estate is like a part time job. Deal with issues when they arise no matter what time of day, month, or Weather conditions. I am ready to move on in my life to Florida! LOL. I have no one to Management on my behalf. so, I'm liquidating assets.
The property is fully occupied with a stable tenant mix, including three recently signed one-year leases and two recent lease renewals, providing consistent rental income.
Current gross scheduled rental income is $42,900 annually.
Several units have been updated over time, and the property includes a permitted finished basement with a bathroom, providing additional usable space. The building has received ongoing improvements over the years and offers an opportunity for investors seeking current income with additional upside through future rent growth.
This is a true Turn-Key Investment opportunity. I know it's not Brick, New or Fancy, but the Dozens of Tenants that has called these apartments home over the years don't care.
Whether you're adding to an existing portfolio or acquiring your first multifamily investment, this property offers immediate cash flow, stable occupancy, and future upside through continued ownership and management.. My personal vision was to add off-street parking in the rear, covered patios, and Central Air & Heat. Storage in the basement, and a Managers unit in the basement. I installed a permitted Bathroom (Not Finished).