152 & 162 S Dipper Ln
- Opportunities to increase cash flow through renovations and strategic rent adjustments
- On-site laundry and dedicated off-street parking
Property Description
Add to your portfolio with this 18-unit multifamily investment opportunity on the west side of Decatur, Illinois. Comprised of two buildings, one featuring 10 units and the other 8 units, this property offers a unit mix of studio, one-bedroom, and a single two-bedroom apartment. The property includes amenities such as an on-site laundry facility and dedicated off-street parking located behind the buildings. Current ownership has maintained occupancy while keeping rents at or below market rates, presenting investors with a clear opportunity to increase cash flow through strategic rent adjustments as leases renew. Additionally, vacant units are currently undergoing turnover, creating the potential for immediate income growth once the units are leased. Current ownership has also begun addressing maintenance issues, including repairs to the second-story banisters on one of the buildings. This 18-unit Decatur property offers a combination of current income, operational improvements, and future appreciation opportunities that is definitely worth a look.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $700,000 |
| No. of Units: | 18 |
| Lot Size: | 0.39 Acres |
| Opportunity Zone: | No |
| Price per unit: | $38,889 |
| Property Website | Click Here |
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Lenders
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Essex Property Trust, Inc.
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Bob Tuteur
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