One-Level Four-Unit
For Sale
$195,000
120 Linden St, East Peoria, IL 61611
Tenant-paid utilities support a straightforward operating structure across the residential property.
Property Size2,000 SF
Price / SF$97.50
Days on Market48
Property Features for 120 Linden St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Building Details
Year Built
1953
Listing Agency:
RE/MAX Traders Unlimited
Listed By:
Mackenzie Price · License #RMA23798
(309) 678-0986
Source:
Schaublerealty
Added: Aug 30
Changed: Oct 1
Last Checked: Oct 15 at 3:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Traders Unlimited
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Investment Insights
Based on property information with market context.
This one-level quadplex contains four residential units beneath a single roofline, with 2000 SF of building area. Each apartment is configured with one bedroom and one bathroom, offering consistent layouts across the property. The building was constructed in 1953, and tenants are responsible for their utilities. One unit is expected to become vacant, creating a near-term leasing decision for the next owner.
The property is located at 120 Linden St in East Peoria, Illinois, with schools, parks, and public transit nearby. The four-unit configuration provides a compact multifamily asset with uniform apartment layouts and a manageable physical scale.
The property is located at 120 Linden St in East Peoria, Illinois, with schools, parks, and public transit nearby. The four-unit configuration provides a compact multifamily asset with uniform apartment layouts and a manageable physical scale.
Key Highlights
- Four‑unit quadplex with 2000 SF of building area
- One‑level layout with four residential units
- Each unit includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,209
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,180
$264.2K
Cap Rate 7%
$188,700
$188.7K
Cap Rate 9%
$146,767
$146.8K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$20.4K $10.20/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$18.9K $9.44/SF
− OpEx
−$5.7K −$2.83/SF
NOI
$13.2K $6.60/SF
Area
Tazewell County, IL
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,180
Cap Rate 7%
$188,700
Cap Rate 9%
$146,767
Alternative Uses
Best Use
Multifamily LT 5
$188.7K
$165.1K – $220.2K
NOI $13,209 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$167.5K
$146.6K – $195.4K
NOI $11,725 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$782.6K
$684.8K – $913.1K
NOI $54,784 @ 7.0% cap · market cap 28.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 61611, IL
23,837
Population
11,207
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
41.0 sq mi
ZIP Area
581
Density / Sq Mi
$76,329
Median Household Income
$44,586
Median Earnings
$942
Median Rent
$162,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Tenant-paid utilities support a straightforward operating structure across the residential property.
Where is this quadplex located?
The property is located at 120 Linden St East Peoria, IL.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2000 SF of building area; One‑level layout with four residential units; Each unit includes 1 bedroom and 1 bathroom
