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    601 Bess St Marissa, IL 62257

    Sponsored
    For Sale
    $45,000

    Four-unit apartment building, high return potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional investment opportunity presents a four-unit apartment building situated on a 0.48-acre lot at 601 N Bess Street in Marissa, Illinois. The building boasts a total of approximately 4900 square feet and features a robust exterior construction of block and brick. Currently configured as three two-bedroom units and one three-bedroom unit, the interior layout offers significant flexibility. Interior walls are non-load bearing, allowing for adaptable configurations to suit various investment strategies and tenant needs. Recent exterior improvements include updated windows and fresh paint, enhancing curb appeal and reducing maintenance costs. The interior condition varies across units, ranging from requiring complete renovation to simply needing fresh paint, presenting a spectrum of potential return on investment depending on the chosen renovation strategy. This property is ideal for investors seeking a manageable multi-family investment with the potential for substantial returns. The existing units provide immediate income generation, while the adaptable interior allows for customization to maximize rental income and tenant satisfaction. The location in Marissa, Illinois, offers a stable market for rental properties. This is a rare opportunity to acquire a well-located, adaptable multi-family building at an attractive price point. Don't miss this chance to add a strong performer to your investment portfolio.

    Property Features for 601 Bess St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    20,909 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Dental Office Auto Repair Shop Pharmacy Auto Parts Store Storage Facility Bar & Pub Garden Center Car Rental Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marissa
    County
    St Clair-IL
    State
    Illinois
    Longitude
    -89.75197
    Latitude
    38.2506

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    FAQs

    What type of property is this?
    Commercial real estate - Four-unit apartment building, high return potential.
    Where is this commercial real estate located?
    The property is located at 601 Bess St Marissa, IL.
    What is the asking price?
    The asking price for this property is $45,000.
    473-2500
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    601 Bess St Marissa, IL 62257
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    Marissa, IL 62257
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    601 Bess St Marissa, IL 62257
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