421 E Knoxville St - Apartments FOR SALE


Brimfield, IL 61517
$250,000 USD
847-644-2757
421 E Knoxville St, Brimfield, IL for Sale
$250,000 USD
Apartments - FOR SALE
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null | Request Cap Rate

421 E Knoxville St
Brimfield, IL 61517


HIGHLIGHTS

  • Income-producing fourplex with a stable tenant base and existing revenue stream.
  • Flexible commercial zoning, allowing for multiple future use scenarios.
  • Attractive unit mix (two 2-bed and two 1-bed units) appealing to a broad renter pool.
  • Additional income from on-site laundry, generating monthly revenue.
  • Spacious lot in a small-town setting, offering quiet surroundings with proximity to nearby amenities.
  • Private parking lot and driveway, providing ample tenant parking.

OVERVIEW

Cash-flowing 4-unit property with commercial zoning — a strong investment opportunity located at the entrance of Brimfield, IL. Situated in Peoria County within the Brimfield School District, this property offers stable income with clear upside potential. The fourplex sits on 0.52 acres (per Peoria County records) and benefits from low property taxes relative to its income production. The unit mix includes two 2-bedroom units and two 1-bedroom units, appealing to a wide tenant base. Current revenue is consistent, with additional income potential through rent increases and operational improvements. On-site laundry generates approximately $350/month, creating an added revenue stream. The property features a private parking lot and private driveway, providing plenty of parking for all tenants. Value-add opportunities include paving the parking lot and driveway to further enhance tenant appeal and long-term value. Located in a small-town setting with a short drive to nearby city amenities, tenants enjoy peaceful surroundings alongside local conveniences. Highlights: -Income-producing 4-unit property (fourplex) -Commercial zoning for flexible future use -Two 2-bedroom units & two 1-bedroom units -Stable income with potential to increase rents -Laundry income (~$350/month) -0.52-acre lot (per county records) -Private parking lot & private driveway -Plenty of tenant parking -Value-add opportunity with paving improvements -Low taxes for the asset class

FOR SALE DETAILS

PRICE

$250,000 USD

PRICE/SF

$111 USD /SF

# OF UNITS

5

PRICE/UNIT

$50,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

Commercial

APN/PARCEL ID

06-24-251-002

ASK ABOUT THIS PROPERTY

Jordan SchnolleXp CommercialMore Info
847-644-2757

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Jordan SchnolleXp CommercialMore Info
847-644-2757

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