605 Orchard Street
Property Description
This 10-unit multifamily investment opportunity is located just blocks from Western Illinois University in Macomb and currently serves a mix of both student and young professional tenants. With strong rental demand generated by WIU and surrounding employers, the property offers investors stable cash flow and long-term upside potential. The property consists of the following unit mix: * 7) Three Bedroom / One Bathroom Units * 1) Two Bedroom / One Bathroom Unit * 1) One Bedroom / One Bathroom Unit * 1) Studio Unit Current rental rates range from approximately $600 to $750 per month depending upon unit size and configuration. The property is currently approximately 90% occupied with ownership anticipating the property being fully occupied by August. Lease expiration dates are staggered, helping reduce turnover concentration and minimizing vacancy exposure. The property currently houses both students and young professionals, creating a diversified tenant base rather than relying solely upon student housing demand.Broker Details
MR LANDMAN LLC (217) 202-0924
MLS ID: 950169 State License Number: 471020503
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $450,000 |
| No. of Units: | 10 |
| Year Built: | 2006 |
| Opportunity Zone: | No |
| Price per unit: | $45,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-MREDIL-12665610
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