121-123 E Center St
Mixed Use | 9.46% CAP | 6,800 SqFt
Marketing description
CONTRACT FOR DEED OPPORTUNITY - 30% downpayment
CAN DO TRADITIONAL - BRING YOUR AGENT IF DESIRED!
Beautiful building for sale downtown LeRoy Illinois. This building is a wonderful spot in LeRoy, with classic brickwork and facade - dated 1884.
The building is comprised of the following:
1. Photography Studio
2. Dance Studio
3. Ground floor 1 bath Studio apartment
4. 3 bed 1 bath apartment (1200sq ft)
5. 2 bed 1 bath apartment
6. 2 bed 1 bath apartment
Recent updates include; New flooring for dance studio, new flooring in apartment 3 kitchen.
~$3,600 gross monthly rent between all units, with future opportunity given market rents.
Offering with current Cap rate at price of $350,000 of 8.9% based on prior R-12 month. Pro-forma higher.
Financials and details can be provided on request.
Investment highlights
Unit Mix:
2 Retails - $1050 a month total
3 Bed / 1 Bath Apartment - $1,000/month
1 Bed / 1 Bath Apartment - $420/month
1 Bed / 1 Bath Apartment - $610/month
1 Bed / 1 Bath Apartment - $515/month
Tenant Utilities: Tenants pay Electric & Gas
Landlord Expenses: Water
Recent Capital Improvements: New flooring dance studio, new flooring 3 Bed Apt Kitchen & Dining, New Fridge 3 Bed, one of the 1 Bed 1 Bath apartments being updated currently - paint, flooring, etc.
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