2505 Pine Ave
- 22 Units
- 9 SFRs
- 11 Parcels
- NOI- $227,580
- Eastern Illinois University
- Employment Hub
- Sarah Bush Lincoln Health Center
- Low Entry Barrier
Property Description
This portfolio covers 11 parcels across Mattoon and Charleston with a mix of multifamily and single-family rentals. The package includes 22 multifamily units across two addresses plus 9 single-family homes ranging from duplexes to 3-, 4-, 5-, and 6-bedroom properties. All units are currently tenant-occupied and producing income, delivering an in-place 8.8% cap rate. Charleston benefits from Eastern Illinois University, which drives steady rental demand alongside government and healthcare employment. Mattoon serves as a regional employment center with healthcare, manufacturing, and logistics tenants, anchored by immediate access to Interstate 57. Together, these markets provide stable occupancy, affordable rents relative to larger metros, and a reliable tenant base spanning students, workforce housing, and long-term residents. This is a straightforward income-producing portfolio with immediate returns.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,999,000 |
| No. of Units: | 33 |
| Year Built: | 1975 |
| Lot Size: | 0.41 Acres |
| Opportunity Zone: | No |
| Price per unit: | $60,576 |
| Property Website | Click Here |
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