106 108 S 3rd Avenue Mendota, IL 61342 • Multi Unit - Multiple • New $789,000

Description

Exceptional investment opportunity featuring two well-maintained buildings comprised of one 4-unit building and one 8-unit building. Seven units have been fully remodeled with many modern updates, while four additional units are currently leased and producing steady income. All units are on 1 year lease with security deposits. One remaining vacant unit presents a prime value-add opportunity for renovation and increased rental revenue. Steady occupancy with some long term tenants. Each building has a laundry room with 2 separate coin operated W/Ds. The property also includes a 12-unit storage building, generating additional revenue with four units currently leased at $75 per month. The remaining eight units present a clear lease-up opportunity, allowing a new owner to significantly increase ancillary income and boost overall cash flow with minimal capital investment. Recent capital improvements include new roofs on both buildings at an approximate cost of $75,000, and seven numerous unit updates, reducing future maintenance expenses and enhancing long-term asset stability. This property offers a compelling combination of stabilized income, proven upgrades, and multiple avenues for revenue growth. An outstanding opportunity for investors seeking a high-performing asset with both immediate returns and long-term appreciation potential. All information deemed reliable but not guaranteed.

Property Highlights