616 Market Street
Property Description
Excellent investment opportunity in Rockford! This fully occupied 8-unit multifamily property features eight 1-bedroom, 1-bathroom apartments, offering immediate rental income and potential for future growth. The property generates $60,900 in annual GOI with a reported NOI of $41,745, representing a 9.82 cap rate at the asking price of $425,000. Featuring an attractive brick exterior and a convenient location 3 minutes from downtown Rockford, this property presents a great opportunity for investors looking to expand their portfolio with an established income-producing asset.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $425,000 |
| No. of Units: | 8 |
| Year Built: | 1900 |
| Opportunity Zone: | No |
| Price per unit: | $53,125 |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 8 |
ID: 3yd-MREDIL-12789523
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