1348 Madison Avenue
Property Description
Here is your opportunity to add a solid cash flow surplus to your portfolio. This mixed use property offers a variety of income producing methods. Both of the residential upstairs apartments are currently rented, and the turn key bar & grill is ready to open right away, with a new owner or tenant of your choice. The main floor fully operational bar and grill was previously rented for $1,500/mo. Items included in the sale and will be transferred to the new owner, are all of the kitchen equipment consisting of the commercial stove top, fryers, prep coolers, range hood, perfectly functioning large walk in refrigeration system, and beer coolers. The upstairs residential apartment units consist of a 2 Bedroom 1 Bath, paying $900/mo. And a spacious 1 bedroom 1 bath unit and comes fully furnished provided by the seller, the tenants are paying $850/mo. The roof was completely replaced with architectural shingles in 2023. The commercial tenant once paid ALL utilities as apart of their lease terms, considering there is one electric, gas, & water meter. Lastly, there is an extra parcel included in the sale 21-2-19-401-037, it is a gravel lot for extra parking, or further development opportunity, located directly across the street on the opposite corner lot. That parcel has a separate address of 1400 Madison Ave. Feel free to contact the listing agent for further details.Broker Details
Landmark Realty Godfrey (618) 466-1513
MLS ID: HORNM State License Number: 2023007773
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $199,000 |
| No. of Units: | 3 |
| Year Built: | 1940 |
| Lot Size: | 4,608.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $66,333 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 2 |
ID: 3yd-MARISMO-25073689
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