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260 North Broad Street, Galesburg IL 260 N Broad St 6 Unit Apartment Building $119,900 ($19,983/Unit) 21.80% Cap Rate Galesburg, IL 61401
Investment Highlights
- Nice are
- rehab opportunity
- a 20%+ net ncome
- Low maintenance
- Value Add
Executive Summary
AWESOME PROPERTY!!!! 6 units. 4 out of 6 currently occupied to great tenants. 2 units need to be completed. Good bones, very nice area, low maintenance. PROPERTY WILL GENERATE A 19.38% NET RETURN ON INVESTMENT!!! 45K IN VALUE ADD!!! Don’t miss this opportunity.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$39,600
|
$8.02
|
| Taxes |
$1,596
|
$0.32
|
| Operating Expenses |
$11,860
|
$2.40
|
| Total Expenses |
$13,456
|
$2.73
|
| Net Operating Income |
$26,144
|
$5.30
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $39,600 |
| Annual Per SF | $8.02 |
| Taxes | |
|---|---|
| Annual | $1,596 |
| Annual Per SF | $0.32 |
| Operating Expenses | |
|---|---|
| Annual | $11,860 |
| Annual Per SF | $2.40 |
| Total Expenses | |
|---|---|
| Annual | $13,456 |
| Annual Per SF | $2.73 |
| Net Operating Income | |
|---|---|
| Annual | $26,144 |
| Annual Per SF | $5.30 |
Property Facts Under Contract
| Price | $119,900 | Apartment Style | Low-Rise |
| Price Per Unit | $19,983 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 21.80% | Building Size | 4,936 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 1.22/1,000 SF |
| Price | $119,900 |
| Price Per Unit | $19,983 |
| Sale Type | Investment |
| Cap Rate | 21.80% |
| Sale Condition | Redevelopment Project |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,936 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.22/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Oven
- Range
- Tub/Shower
- Yard
- Grill
- Basement
- Handrails
- Lawn
Site Amenities
- Picnic Area
- Grill
- Trash Pickup - Curbside
- Storage Space
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $550.00 | 500 |
1 1
Property Taxes
| Parcel Number | 99-10-455-011 | Total Assessment | $17,200 |
| Land Assessment | $1,680 | Annual Taxes | $1,596 ($0.32/SF) |
| Improvements Assessment | $15,520 | Tax Year | 2024 |
Property Taxes
Parcel Number
99-10-455-011
Land Assessment
$1,680
Improvements Assessment
$15,520
Total Assessment
$17,200
Annual Taxes
$1,596 ($0.32/SF)
Tax Year
2024
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260 North Broad Street, Galesburg IL | 260 N Broad St
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