$1,500,000.00
Granite City, IL 62040
- 0.23 Acres
- Madison County
Description
Turnkey Investment with Guaranteed Income & Expansion Potential!
This 12-unit apartment complex is a prime investment opportunity, generating $11,500 in contracted monthly income from Chestnut Health Systems. The tenant handles full property management and rehabs units as needed, ensuring a truly passive income stream for the owner.
The complex consists of 8 one-bedroom units and 4 efficiency units, all fully furnished by the tenant. Additionally, there is a 3,000 sq. ft. basement that is not currently leased, presenting a valuable opportunity for additional income. Second building has 4ft crawl. On-site laundry facilities in the basement provide further convenience and revenue potential.
The owner covers utilities, insurance, and major maintenance, including roof, HVAC, and hot water heaters. Some units have been recently updated with new HVAC systems and hot water heaters. The roof is newer, adding to the long-term stability of this investment.
Key Features
- Property Type Multi-Family, Residential Income
- Acres 0.23 Acres
- Minerals Call for more info
- MLS # 25009018
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Listing #25009018 Courtesy of Coldwell Banker Brown Realtors. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Information is deemed reliable but is not guaranteed.
