Description

Address: 209 N Humboldt St, Marine, IL 62061

Investment Opportunity – 4-Unit Apartment Building with Conversion Potential 

This 4-unit apartment building offers strong investment potential, with the possibility of converting it into a 5-unit property. Currently, one unit has been combined to create a larger 2-bedroom space, featuring two HVAC units and two meters.

Before a recent move-in, we were able to photograph one of the units, which had been remodeled with new flooring, updated appliances, and a bathroom renovation. Three of the units have undergone some level of remodeling, blending modern updates with the charm of this historic building.

Property Highlights:

• One possible 2-bedroom, 1-bath unit with washer/dryer hookup
• Three 1-bedroom, 1-bath units
• Three A/C units replaced in 2024; remaining units are older
• Five electrical meters & four water meters (5th water meter can be added)
• Brick-lined cellar and crawl space beneath the building
• Original wood trim and historic architectural details in great condition
• Large lot with a detached garage that generates additional rental income

Rental Income:

• Unit 1: $750/month – Lease Expires 6/1/25
• Unit 2: $425/month – Lease Expires Month to Month Lease
• Unit 3: $625/month – Lease Expires 2/10/26
• Unit 4: $600/month – Lease Expires 11/22/25
• Garage Rent: $125/month

Operating Expenses:

• Trash/Sewer: $37/month ($444/year)
• Property Insurance: $1,575/year
• Property Taxes: $3,580/year

Property Details:

• Total Square Footage: 3,128 (Source: Other)
• Lot Size: 0.41 acres (Source: Other)
• Heating: Electric
• Cooling: Electric
• Water Heater: Electric
• Foundation: Part Cellar / Part Crawl, Sandstone / Brick

Utility Providers:

• Water & Sewer: City of Marine
• Electric & Gas: Ameren

Garage: Detached, 1-2 Car Capacity

School District: Triad District 2

Drive Times:

• Edwardsville, IL: 10 miles / 15 minutes
• O'Fallon, IL: 20 miles / 29 minutes
• St. Louis, MO: 30 miles / 32 minutes

Unit Layouts:

• Unit 1 (2-Bed, 1-Bath with Laundry Hookup)
  • Bedroom: 15 x 15
  • Living Room: 16 x 15
  • Kitchen: 8 x 9
  • Dining Room or Walk thru bedroom: 10 x 9
  • Laundry: 5 x 7
• Units 2-4 (1-Bed, 1-Bath)
  • Bedroom: 15 x 13
  • Living Room: 16 x 15
  • Kitchen: 8 x 7

Title Company: Community Title

Financing: Cash, Conventional Mortgage

Directions: Coming from IL-143 into Marine, turn on N Humboldt St. Property will be up on the right.

Parcel(s): 06-2-17-16-18-302-024

Taxes: 2023 $3,785.76

P# 980  /  MLS # 25007360

LISTED by Property Peddler Inc.   

Auctioneer/Broker Brad Chandler 618-221-5727

Designated Managing Broker Brenda Chandler 618-491-6415