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Legacy Property Management

propertymanagement@legacypropertiesil.com +1(224) 999-9200

$ 165,000

Est. payment | -/mo

3 Beds

2 Baths

7,405 Sqft Lot

Save

$ 165,000

Est. payment | -/mo

Save

3 Beds

2 Baths

7,405 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12740729

Style Traditional

Bedrooms 3

Year Built 1910

Annual Tax Amount $3,226

Tax Year 2025

Lot Size 7,405 Sqft

Lot Dimensions 50X150

Property Sub-Type Two to Four Units

Property Description

Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.

Location

State IL

County Kankakee

Area Kankakee

Rooms

Basement Unfinished, Full

Interior

Heating Natural Gas

Fireplace N

Exterior

Exterior Feature Balcony

Roof Type Asphalt

Building

Dwelling Type Two to Four Units

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Vinyl Siding

New Construction false

Schools

School District 111 , 111, 111

Others

Ownership Fee Simple

Special Listing Condition Standard

Listed by Fawad Shahid of Carnelian Realty Group

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(224) 999-9200

propertymanagement@legacypropertiesil.com

1350 Remington Rd, Suite B, Schaumburg IL, Other

341 S 5th AVE Kankakee, IL 60901