Brian Thomas
- Buy
- Sell
https://www.ruhlmortgage.com/LawrenceDavis.html
Description
RARE 16-UNIT VALUE-ADD ON 1.90 ACRES Built in 1978 as an assisted living residence and later operated as Doll Memorial Apartments, this single-story, 12,545 sq ft building offers something few small-town investments can: purpose-built construction, an efficient layout and real room to grow. The unit mix is simple and highly rentable. There are 8 studios (approx. 529 sq ft) and 8 two-bedroom apartments (approx. 634 sq ft), each with its own bathroom. The single-level design means no stairs, easy access to every unit and straightforward maintenance and turnovers. Ten units are currently vacant, and most are already in rentable condition, giving the next owner a clear path to lease-up through light work rather than major renovation. All of this sits on a generous 1.90-acre lot on the south side of Lena, near IL Route 73 and a short drive from Freeport. It's an outstanding opportunity for the investor ready to fill units, add value and build long-term equity. Buyer to verify all information.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
County: Stephenson
Listed By:
Home One Realty
708-214-6425
MRED MLS
MLS ID: 12796006
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1008 Logan Street , Lena, IL 61048.
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563-441-1862
toll free 866-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $649,900 | $649,900 | $649,900 |
| Down Payment | $129,980 | $22,747 | $162,475 |
| Monthly Mortgage Amount | $3,416 | $4,192 | $4,213 |
| Taxes | $904 | $904 | $904 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $286 | $0 |
| Monthly Estimated Total | $4,510 | $5,572 | $5,307 |
Brian Thomas
REALTOR®
Cell: (563) 495-1741
licensed in IA & IL
Clinton Office
301 North Second Street
Clinton, IA 52732
(563) 242-4602
Clinton, IA 52732
(563) 242-4602
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