1900 Champaign Ave - Apartments FOR SALE


Mattoon, IL 61938
$200,000 USD
217-273-0505
1900 Champaign Ave, Mattoon, IL for Sale
$200,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

1900 Champaign Ave
Mattoon, IL 61938


OVERVIEW

As-Is Sale. The decided opinion was to sell off our largest vacancy-cost asset as we move into the busy season for our other business.There is still plenty of money in this deal, especially for someone with construction experience. Older 8 Plex, All 1 bed/1 bath. New Roof/Decking (Malarkey Vista) 2025, New Exterior Staircase, Framing & Metal around windows Installed 2025. Interior gutted enough to fix all mechanicals and rebuild. 20+ dump trailer loads of trash and material removed from the property. Sewer main fixed. Electrical permits pulled, multiple units rewired and up to local code. All electrical can be complete before sale at listing price. Mini splits w/heat pumps for each unit are included with the sale. There is a basement at this property for easy plumbing/electrical access. $376k ARV (2024) based off of 2024 FMR. In 2025 we had a 6% increase in FMR, meaning the ARV should increase to around $398k. This project can be finished for $80-150k depending on the abilities of the owner functioning as the GC. I have a portfolio of cash flowing properties that can be purchased alongside this. This building will continue getting renovated until the building/portfolio sells. Call me (Jacob) with any questions - 2172730505

FOR SALE DETAILS

PRICE

$200,000 USD

PRICE/SF

$35 USD /SF

# OF UNITS

8

PRICE/UNIT

$25,000

CAP RATE

Request Cap Rate

% LEASED

0%

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1900 Champaign Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,821 SF

ZONING

-

APN/PARCEL ID

07-1-03258-000

ASK ABOUT THIS PROPERTY

Jacob DaughertyJacob DaughertyMore Info
217-273-0505

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Jacob DaughertyJacob DaughertyMore Info
217-273-0505

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.