16-Unit Apartment
For Sale
$995,000
1301-1305 Lafayette Avenue, Mattoon, IL 61938
Fully leased multifamily property with two buildings and R-3 zoning.
Property Size14,000 SF
Price / SF$71.07
Days on Market274
Property Features for 1301-1305 Lafayette Avenue
General Information
Standard status
Active
Size
14,000 SF
Property subtype
Residential Income / Multi Family
Zoning
R-3
Occupancy
100%
Additional Details
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$12,380
Amenities
Window Unit(s)
Electric, Radiant
Unfinished
Electric Water Heater, Microwave, Range, Refrigerator
Yes
Building Details
Year Built
1988
Buildings
2
Stories
2
Listing Agency:
Coldwell Banker Classic Real Estate
(217) 273-4842
Listed By:
Tom Bariether · License #475123061
(217) 273-4842
Source:
Compass
Added: Nov 21, 2025
Changed: Aug 21
Last Checked: Aug 21 at 1:02PM
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 Coldwell Banker Classic Real Estate
Investment Insights
Based on property information with market context.
This multifamily property includes 16 units across two apartment buildings totaling 14,000 square feet. Built in 1988, the complex is fully leased and includes window unit cooling, electric radiant heat, and electric water heaters. Kitchen equipment includes microwaves, ranges, and refrigerators, while some interior areas are unfinished.
The property is located at 1301-1305 Lafayette Avenue in Mattoon, Illinois. R-3 zoning supports its apartment-building classification. The two-building configuration and existing occupancy provide a straightforward addition to a multifamily portfolio.
The property is located at 1301-1305 Lafayette Avenue in Mattoon, Illinois. R-3 zoning supports its apartment-building classification. The two-building configuration and existing occupancy provide a straightforward addition to a multifamily portfolio.
Key Highlights
- 16‑unit apartment property across 2 buildings
- 14,000 SF of total property size
- Fully leased multifamily asset
Property Analytics
Current Use
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Explore this area
Business Placement
Demographics for 61938, IL
20,768
Population
10,299
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
126.5 sq mi
ZIP Area
164
Density / Sq Mi
$54,288
Median Household Income
$39,651
Median Earnings
$771
Median Rent
$109,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with two buildings and R-3 zoning.
Where is this apartment building located?
The property is located at 1301-1305 Lafayette Avenue Mattoon, IL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 16‑unit apartment property across 2 buildings; 14,000 SF of total property size; Fully leased multifamily asset
