518 W Harris AVE Greenville, IL 62246
3,328 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 2-4 Units
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 3,328 sqft
Price per Sqft $49
Subdivision Estella Holdzkom Add
MLS Listing ID 26009661
Style Other
Year Built 1986
Annual Tax Amount $4,068
Lot Size 0.410 Acres
Acres 0.41
Property Sub-Type 2-4 Units
Property Description
The building features two 3 bed, 1 bath units and two 1 bed, 1 bath units. Three of the four apartments are considered livable, with projected monthly income between $2,000–$2,200 once stabilized. All three previously passed Occupancy Permit inspections at the time their last tenants moved in.
Two units are currently tenant-occupied, with both tenants on month-to-month leases. One unit is vacant and close to rent-ready with some finishing touches. The fourth unit needs renovation and is not physically accessible for showings.
Each apartment has separate electric and water meters, allowing tenants to pay their own utilities and keeping operating expenses more predictable.
Details about each apartment:
Unit A - 1 bedroom, 1 bath, 624 sq ft, ground floor. Currently vacant, market rental rate $500-600/month.
Unit B - 3 bedroom, 1 bath, 1036 sq ft, 2nd floor with private deck. Currently rented below market rental rate for $700/month.
Unit C - 1bedroom, 1 bath, 600 sq ft, 2nd floor. In need of repairs and updating, only accessible by exterior stairs, which are currently not in place. Market rental rate $500-600/month.
Unit D - 3 bedroom, 1 bath, 992 sq ft, ground floor. Currently rented at market rental rate, $800/month.
Let's be clear: this property is not glamorous. It needs cleaning, cosmetic updates, and hands-on ownership. Fresh paint, new flooring, and general improvements could significantly increase both appeal and cash flow. For the right buyer with vision and a plan, this could become a solid addition to an investment portfolio.
Bring your contractor, your creativity, and your calculator.
Location
State IL
County Bond
Rooms
Basement None
Interior
Heating Baseboard, Forced Air
Cooling Central Air, Electric, Wall/Window Unit(s)
Fireplace N
Appliance Dishwasher, Free-Standing Electric Oven, Refrigerator
Laundry See Remarks
Exterior
Parking Features false
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
Private Pool false
Building
Water Public
Structure Type Wood Siding
Schools
Elementary Schools Bond Dist 2
Middle Schools Bond Dist 2
High Schools Greenville
School District Bond Dist 2
Others
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Standard
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Agent | License ID: 2017020072