Style: Multi-Family 5+
Sq Ft: 5580.0
Year Built: 1980
$1,500,000
1832 Cleveland Boulevard, Granite City, IL 62040, US
Remarks
Turnkey Investment with Guaranteed Income & Expansion Potential!This 12-unit apartment complex is a prime investment opportunity, generating $11,500 in contracted monthly income from Chestnut Health Systems. The tenant handles full property management and rehabs units as needed, ensuring a truly passive income stream for the owner.
The complex consists of 8 one-bedroom units and 4 efficiency units, all fully furnished by the tenant. Additionally, there is a 3,000 sq. ft. basement that is not currently leased, presenting a valuable opportunity for additional income. On-site laundry facilities in the basement provide further convenience and revenue potential.
The owner covers utilities, insurance, and major maintenance, including roof, HVAC, and hot water heaters. Some units have been recently updated with new HVAC systems and hot water heaters. The roof is newer, adding to the long-term stability of this investment.
Details
MLS#: 25009018Price: $1,500,000
Style: Multi-Family 5+
Sq Ft: 5580.0
Year Built: 1980
County: Madison-IL
Subdivision: N/A
Lot Size: 80 x 125
Tax Fee: 5149
School Elementary: GRANITE CITY DIST 9
School Middle: GRANITE CITY DIST 9
School High: Granite City
School District: Granite City DIST 9
Resources
Broker Contact
Coldwell Banker Brown Realtors
530 Edwardsville Road
Troy, IL, 62294
US
Amy McGarr
6673404
ehellrung@cbbrownrealtors.com
Website
530 Edwardsville Road
Troy, IL, 62294
US
Amy McGarr
6673404
ehellrung@cbbrownrealtors.com
Website
Information is believed to be accurate but should not be relied upon without verification.
Data Provided by MARIS
Last updated: 2025-03-10T13:04:05.000-05:00.
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