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1136 Inlet Road, Amboy, IL

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1136 Inlet Road

Amboy, IL 61310-9579 - Lee County MF Submarket

Property Type:Multi-Family Number of Units:8 Status:Existing Year Built:-
Stories:3 Building Size:18,144 SF Land Area:2.33 AC (101,294 SF)
For Sale Price:$195,000 Price/Unit:$24,375.00 Cap Rate:- GRM:-

Parking:1.65 Parking Spaces / 1,000 SF

Sale Notes:
18,144 sq ft Multi-family 3 story building on 2.42 acres (393 ft x 275 ft)
Currently vacant but with immediate gross income potential of $44,400/year from 7 units ready to be rented out with room for at least another 7 units or for a mixed scheme.
Immediate gross income potential of $3,700 / month ($44,400/ year) on renting the units that are ready for occupation and total income potential of $7,500/month ($90,000 / year) on conversion of the remaining space.
A lot of flexible space, total area of the building is 18,144 sq ft.
7 residential units are ready to be rented out which are as follows:
2 x Studios, 1 bathroom
3 x One Bed apartments, 1 bathroom
1 x Two Bed apartments, 1 bathroom
1 x large 3 Bed apartment, 2 bathrooms (2,500 sq ft)

The property has nice grounds of 2.4 acres and onsite parking
The building has unconverted space left on the second floor, a large gym area, workshops and a large garage for parking. This creates potential for another at least 7 more units bringing the total to 14 residential units plus a smaller gym and large garage.
The whole gym area can also be used in full to create more apartments which can bring the total number of units to 18. Alternatively, a mixed scheme of apartments and offices created.

Princeton Commercial Holdings, LLC
Charles Zawde
(302) 338-9383

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