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740 E Douglas Ave 8 Unit Apartment Building $320,000 ($40,000/Unit) 10% Cap Rate Jacksonville, IL 62650
Executive Summary
For sale by owner, 8-unit apartment building for sale in Jacksonville Illinois. All units are one bedroom one bathroom. 7 of the 8 units are occupied. The 8th unit needs the renovation completed at an estimated cost of about $10,000. The other 7 units currently bring in a monthly income of $4,500.00. 5 of the units are rented to a community organization for $600per unit per month. The check comes directly to the owner each month. One unit is operated as a mid-term rental for workers traveling in the area for $1000 per month. The eighth unit after renovation, would be a good candidate to expand another unit to mid-term rental. The 7th unit rents for $500/mo. This is a very easy building to manage and would be ideal for an out of state investor. The property covers water and trash service. Tenants are responsible for for their own electric service. The property does cover the electric and internet service for the mid-term rental unit.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$50,605
|
$10.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$50,605
|
$10.63
|
| Taxes |
$3,300
|
$0.69
|
| Operating Expenses |
$15,000
|
$3.15
|
| Total Expenses |
$18,300
|
$3.84
|
| Net Operating Income |
$32,305
|
$6.79
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $50,605 |
| Annual Per SF | $10.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $50,605 |
| Annual Per SF | $10.63 |
| Taxes | |
|---|---|
| Annual | $3,300 |
| Annual Per SF | $0.69 |
| Operating Expenses | |
|---|---|
| Annual | $15,000 |
| Annual Per SF | $3.15 |
| Total Expenses | |
|---|---|
| Annual | $18,300 |
| Annual Per SF | $3.84 |
| Net Operating Income | |
|---|---|
| Annual | $32,305 |
| Annual Per SF | $6.79 |
Property Facts
| Price | $320,000 | Building Class | C |
| Price Per Unit | $40,000 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 4,760 SF |
| Cap Rate | 10% | Average Occupancy | 88% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | ||
| Zoning | MF | ||
| Price | $320,000 |
| Price Per Unit | $40,000 |
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 4,760 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1900 |
| Zoning | MF |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Somewhat walkable
20/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 09-21-142-007 | Total Assessment | $42,180 (2024) |
| Land Assessment | $2,830 (2024) | Annual Taxes | $3,300 ($0.69/SF) |
| Improvements Assessment | $39,350 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
09-21-142-007
Land Assessment
$2,830 (2024)
Improvements Assessment
$39,350 (2024)
Total Assessment
$42,180 (2024)
Annual Taxes
$3,300 ($0.69/SF)
Tax Year
2025
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5L Rentals LLC
740 E Douglas Ave
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