INVESTMENT OPPORTUNITY Income Producing Residential Units PRICE REDUCED 16 Residential income producing units consisting of (5) single family homes, (4) duplexes, (1) Triplex, plus a separately leasable garage with office - used as a car dealership. Zoning is B-1. Buildings are all considered legal non-conforming, (2) wells, (6) septic tanks, (3) lift stations. Several of the units have been completely rehabbed. ($125K in capital improvements in the last 2 years) Engineering and survey done for proposed 5-unit commercial building plus (1) apartment. Potential for additional $72,000 gross income. 8.6% CAP rate. Proforma CAP rate is 9.2% bringing rents on certain units to market. Contact broker for rent roll and operating statement.
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For more information about 1600 North, Crystal Lake, IL 60014 contact Corcoran Urban Real Estate.
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