Four-Unit Quadplex with
1413 9th St, Highland, IL 62249
For Sale
$215,000
All four residences are leased, with one recently updated and a four-car carport serving the property.
Property Size2,432 SF
Price / SF$88.40
Days on Market15
Property Features for 1413 9th St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Additional Details
Highway Access
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
deck
laundry facilities
Building Details
Tenancy
Listing Agency:
H3 Capital Real Estate, Llc
(618) 622-3343
Listed By:
Nick Kuhn
(618) 830-9863
Source:
Exprealty
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 8 at 6:05PM
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 H3 Capital Real Estate, Llc
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Investment Insights
Based on property information with market context.
This 2,432-square-foot quadplex contains four leased units; current residents have expressed interest in remaining. One unit has been renovated. The rear deck and stairs have also been replaced. A four-car carport provides off-street parking, and the unfinished basement includes a washer and dryer.
The property is within walking distance of businesses around Highland Town Square and a short drive from Route 143, Highway 40, and Interstate 70.
The property is within walking distance of businesses around Highland Town Square and a short drive from Route 143, Highway 40, and Interstate 70.
Key Highlights
- Four units, all currently leased; tenants have indicated they would like to stay
- 2,432 square feet
- One unit recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,915
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,300
$358.3K
Cap Rate 7%
$255,929
$255.9K
Cap Rate 9%
$199,056
$199.1K
Market Conditions
NOI Build-Up for 2,432 SF
Gross rent
$27.7K $11.40/SF
− Vacancy
−$2.1K −$0.88/SF
EGI
$25.6K $10.52/SF
− OpEx
−$7.7K −$3.16/SF
NOI
$17.9K $7.37/SF
Area
Madison County, IL
Vacancy
7.69%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,300
Cap Rate 7%
$255,929
Cap Rate 9%
$199,056
Alternative Uses
Best Use
Multifamily LT 5
$255.9K
$223.9K – $298.6K
NOI $17,915 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$240.2K
$210.2K – $280.3K
NOI $16,816 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$662.9K
$580.0K – $773.4K
NOI $46,403 @ 7.0% cap · market cap 21.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 62249, IL
16,052
Population
7,317
Households
2.2
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
88.7 sq mi
ZIP Area
181
Density / Sq Mi
$88,986
Median Household Income
$53,122
Median Earnings
$779
Median Rent
$220,000
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 - All four residences are leased, with one recently updated and a four-car carport serving the property.
Where is this quadplex located?
The property is located at 1413 9th St Highland, IL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Four units, all currently leased; tenants have indicated they would like to stay; 2,432 square feet; One unit recently renovated
