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Broadway St 715 W Broadway St 4 Unit Apartment Building $189,900 ($47,475/Unit) 12.71% Cap Rate Sparta, IL 62286
INVESTMENT HIGHLIGHTS
- Two Buildings, One Parcel
- Cash Flow is the key!
- 0.960 Acres
EXECUTIVE SUMMARY
Cash flow opportunity! This fully updated 4-unit property is located on a large parcel with two separate buildings. The property features: Two 2-bedroom, 1-bath units rented at $900/month (tenant pays gas & electric) One 1-bedroom, 1-bath unit rented at $900/month (all utilities included) One studio unit rented at $750/month (all utilities included) Landlord covers water, trash, and lawn care. With a total monthly income of $3,450, this property offers excellent potential for steady returns. Well-maintained and low-maintenance, it’s the perfect addition to your investment portfolio!
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$41,400
|
$10.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,312
|
$0.83
|
| Effective Gross Income |
$38,088
|
$9.52
|
| Taxes |
$2,716
|
$0.68
|
| Operating Expenses |
$11,240
|
$2.81
|
| Total Expenses |
$13,956
|
$3.49
|
| Net Operating Income |
$24,132
|
$6.03
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $41,400 |
| Annual Per SF | $10.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,312 |
| Annual Per SF | $0.83 |
| Effective Gross Income | |
|---|---|
| Annual | $38,088 |
| Annual Per SF | $9.52 |
| Taxes | |
|---|---|
| Annual | $2,716 |
| Annual Per SF | $0.68 |
| Operating Expenses | |
|---|---|
| Annual | $11,240 |
| Annual Per SF | $2.81 |
| Total Expenses | |
|---|---|
| Annual | $13,956 |
| Annual Per SF | $3.49 |
| Net Operating Income | |
|---|---|
| Annual | $24,132 |
| Annual Per SF | $6.03 |
PROPERTY FACTS
| Price | $189,900 | Apartment Style | Townhome |
| Price Per Unit | $47,475 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.95 AC |
| Cap Rate | 12.71% | Building Size | 4,000 SF |
| Gross Rent Multiplier | 6.03 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2024 |
| Property Subtype | Apartment |
| Price | $189,900 |
| Price Per Unit | $47,475 |
| Sale Type | Investment |
| Cap Rate | 12.71% |
| Gross Rent Multiplier | 6.03 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 4,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1978/2024 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $900.00 | - |
| 1+1 | 1 | $900.00 | - |
| Studios | 1 | $750.00 | - |
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Broadway St | 715 W Broadway St
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