Excellent opportunity for a fully occupied + cash flowing asset in St. Liborty, Illinois. Current gross rental income totals approximately $68,700 annually, producing an estimated 8.36% cap rate at the asking price of $540,000. Even more attractive is the property's built-in value-add opportunity. Existing rents remain below market, and projected rental adjustments increase annual gross income to approximately $78,900, resulting in an estimated 10.17% cap rate without requiring additional units or expansion. The property consists of eight apartments featuring a desirable mix of one- and two-bedroom units. Seven of the units offer approximately 800 square feet of living space, while one one-bedroom apartment provides approximately 500 square feet. The building is currently 100% occupied with all tenants on month-to-month leases, providing a new owner with maximum flexibility to implement rental increases or operational improvements over time. The property's expense profile remains manageable, with estimated annual operating expenses of approximately $23,500, including property taxes, insurance, maintenance, owner-paid utilities, trash service, landscaping, and a vacancy reserve. Current net operating income is estimated at over $45,000 annually, with the potential to exceed $54,000 once rents are brought closer to market levels. Investors will also appreciate several recent capital improvements. The building received a new roof in 2024, reducing near-term maintenance concerns and adding confidence for future ownership. Additional building components include established plumbing, electrical systems, and multiple HVAC units serving the apartments. Parking is another strong feature of the property, offering a total of 20 parking spaces, providing ample parking for tenants and guests alike. Whether you're expanding an existing multifamily portfolio or purchasing your first income-producing asset, this property offers an appealing combination of stable occupancy, predictable cash flow, and immediate value-add potential. Few investment opportunities provide this level of existing income while simultaneously allowing investors to increase returns through simple operational management rather than major capital expenditures.