517 E Monroe St - Multi-Family FOR SALE


Metamora, IL 61548
$700,066 USD
630-418-1538
517 E Monroe St, Metamora, IL for Sale
$700,066 USD
Multi-Family - FOR SALE
1/39
null | 7.12% Cap Rate

517 E Monroe St
Metamora, IL 61548


HIGHLIGHTS

  • The property combines three apartment buildings with an adjacent RV park, creating multiple income sources from a single investment.
  • Recent ownership improvements include substantial plumbing upgrades that support ongoing operations.
  • The RV park is designed to accommodate up to 40 recreational vehicles and contributes additional recurring income.
  • The property was reported at 100% occupancy at the time of marketing.
  • Convenient access to Illinois Route 116 and Interstate 74 supports connectivity to Peoria and the broader Central Illinois region.
  • The surrounding market is supported by healthcare, education, manufacturing, and government employment sectors.

OVERVIEW

Metamora Apartments presents an opportunity to acquire a multifamily asset with an additional income component in Metamora, Illinois. The property consists of three apartment buildings containing eight residential units and an adjacent RV park area capable of accommodating up to 40 recreational vehicles. The combination of apartment rental income and RV-related revenue creates a diversified operating profile supported by multiple income streams. Current ownership has completed capital improvements, including significant plumbing upgrades, helping position the property for continued operation and reducing the likelihood of near-term deferred maintenance requirements. The property is reported at 100% occupancy and generates a current net operating income of approximately $49,810, providing in-place cash flow for investors seeking stabilized multifamily assets. Located approximately 15 miles northeast of Downtown Peoria, the property benefits from access to Illinois Route 116 and Interstate 74, connecting residents to employment centers throughout the Peoria and Central Illinois region. The surrounding area is supported by healthcare, education, manufacturing, and government employment sectors, contributing to housing demand and regional economic stability. Demographic data within the surrounding area reflects household incomes above national averages and a mature residential base that supports ongoing demand for a variety of housing options. The asset's blend of residential rental units, RV income potential, completed capital improvements, and accessibility to regional employment centers creates a multifaceted investment opportunity. Investors have the ability to benefit from existing operations while exploring future revenue optimization through rental adjustments and continued asset management initiatives.

FOR SALE DETAILS

PRICE

$700,066 USD

PRICE/SF

$364 USD /SF

# OF UNITS

57

PRICE/UNIT

$12,282

CAP RATE

7.12%

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

517 - 519 E Monroe St - 8 units + 49 outdoor

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

8

LAND DETAILS

LAND ACRES

1.46 AC

LAND SF

63,533 SF

ZONING

-

APN/PARCEL ID

09-17-405-005,09-17-405-007

ASK ABOUT THIS PROPERTY

Patrick SuffieldMarcus & MillichapMore Info
630-418-1538

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Patrick SuffieldMarcus & MillichapMore Info
630-418-1538

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