700 3Rd St Carmi, IL 62821

This exceptional investment opportunity presents a partially renovated former church building located at 700 S 3rd Street, Carmi, IL. The 10,313 square foot property is undergoing conversion into a 14-unit apartment complex. Currently, two completed units generate a monthly income of $1,440. Two additional units are nearing completion, requiring only minor finishing touches before they can be rented. The remaining ten units are in various stages of renovation. The estimated remaining rehabilitation cost is $150,000. Upon completion of the renovations, the property's estimated value is $750,000, representing a significant return on investment. The building boasts beautiful original details, including stunning wooden beams and casings, which have been preserved during the renovation process. Projected monthly income from all 14 units is estimated to range from $10,000 to $12,000. This property offers a unique blend of historical charm and modern income potential, making it an attractive investment for discerning buyers. The property sits on a 0-acre lot. High-quality photographs will be available shortly. This is a prime opportunity to acquire a substantial income-generating asset in a growing market. Don't miss out on this chance to own a piece of Carmi's history and future.