Investment Property Portfolio 832 S Old Route 66 5,125 SF Industrial Building Litchfield, IL 62056 $299,500 ($58.44/SF) 22.72% Cap Rate

Investment property consisting of an 8 unit apartment building, auto repair facility, and a single family home. The apartment income is $5,750/month (5 units at $700, and 3 units at $750), the repair garage income is $1,200/month, and the house income is $1,000/month. The total annual income is $95,400. The landlord pays water sewer and trash. Total annual expenses is $24,350. Cap Rate of 23. Zoning is S-2 which is single family for all of the buildings. The auto shop is grandfathered in under the S-2 with the current legal owner. As soon as another owner is listed it will have to be legally rezoned and the auto shop will be illegal. The process of rezoning is quite a few months . The other buildings can not be converted currently because it is zoned for ONLY single family (one duplex can be possibly approved with a special application but not 3plex or 4plex), Not multi family zoned, not motel/commercial zoned, not Commercial for a restaurant.
Located in a commercial/residential mixed area. Less than 1 mile from I-55.