3937-3939 Main St
Property Description
MULTIFAMILY INVESTMENT OPPORTUNITY 5,991 SF 23 single residence occupancy units in 2 story vintage downtown McHenry building with 20 units leased (87% occupancy). Units rented week to week or month to month. Laundry room. Separate 400 sf leasing/management office could be converted to apartment, store or office and further monetized. Close to commuter train and downtown restaurants. Potential for redevelopment or creative re-use. City in process of establishing TIF district and plans area capital improvements. Priced below local Assessor valuation. Management in place. Ask for rent roll and operating statement. 12.6% actual cap rate. This is an older Class C SRO building that needs work and is priced accordingly. Being sold "as-is"
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $539,000 |
| No. of Units: | 23 |
| Year Built: | 1895 |
| Lot Size: | 0.22 Acres |
| Opportunity Zone: | No |
| Price per unit: | $23,435 |
| Property Website | Click Here |
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