Matthew Mueller
- Buy
- Sell
https://www.ruhlmortgage.com/GregCotton.html
Description
Excellent opportunity to acquire a fully occupied 8-unit multi-family investment property in the heart of Elgin! This income-producing building offers a compelling combination of current occupancy, recent capital improvements, and future value-add potential. Six of the eight units have been updated since September 2023, while Units #2 and #4 remain available for future improvements and potential rent enhancement. Major recent upgrades include a tear-off roof completed in 2024 and a water heater installed in 2022. The building is heated by a boiler, and each unit has its own window A/C unit. All 8 units are currently rented, allowing an investor to step into an established property with rental income already in place. Ideally located near restaurants, convenience stores, business offices, and established single-family neighborhoods, the property offers strong accessibility and a desirable central Elgin location. Whether you are looking to expand an existing portfolio or acquire a multi-unit property with additional upside, this 8-unit building presents an rare investment opportunity. Property is being sold AS-IS.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
Sqft: 2,880
County: Cook
Listed By:
HomeSmart Connect
847-495-5000
MRED MLS
MLS ID: 12741183
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809 South Street, Elgin, IL 60123.
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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 | $749,000 | $749,000 | $749,000 |
| Down Payment | $149,800 | $26,215 | $187,250 |
| Monthly Mortgage Amount | $3,936 | $4,831 | $4,855 |
| Taxes | $1042 | $1042 | $1042 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $330 | $0 |
| Monthly Estimated Total | $5,196 | $6,421 | $6,115 |
Matthew Mueller
REALTOR®
Cell: (309) 236-1922
Licensed in IA & IL
Davenport Office
4545 Welcome Way
Davenport, IA 52806
(563) 441-5100
Davenport, IA 52806
(563) 441-5100
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