Updated Three-Unit Rental
New
For Sale
$120,000
2704 Idaho Ave, Granite City, IL 62040
Three residential units offer a compact multifamily configuration for rental use.
Property Size1,440 SF
Price / SF$83.33
Days on Market6
Property Features for 2704 Idaho Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Century 21 Bailey & Company
Listed By:
Michelle Orlando · License #475.215512
(618) 931-2121
Source:
Nations-network
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 6 at 12:08AM
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 Century 21 Bailey & Company
Investment Insights
Based on property information with market context.
This triplex contains three updated residential units within a 1,440-square-foot building constructed in 1950. The property is configured as a rental asset, with refreshed interiors across all three units.
Located near Wilson Park, the property is also described as close to shopping, dining, schools, and major roadways. Its address is 2704 Idaho Ave in Granite City, Illinois.
Located near Wilson Park, the property is also described as close to shopping, dining, schools, and major roadways. Its address is 2704 Idaho Ave in Granite City, Illinois.
Key Highlights
- Three updated residential units
- 1,440‑square‑foot building
- Built in 1950
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,608
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,160
$212.2K
Cap Rate 7%
$151,543
$151.5K
Cap Rate 9%
$117,867
$117.9K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$16.4K $11.40/SF
− Vacancy
−$1.3K −$0.88/SF
EGI
$15.2K $10.52/SF
− OpEx
−$4.5K −$3.16/SF
NOI
$10.6K $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%
$212,160
Cap Rate 7%
$151,543
Cap Rate 9%
$117,867
Alternative Uses
Best Use
Multifamily LT 5
$151.5K
$132.6K – $176.8K
NOI $10,608 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$142.2K
$124.5K – $166.0K
NOI $9,957 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$392.5K
$343.4K – $457.9K
NOI $27,475 @ 7.0% cap · market cap 22.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 62040, IL
40,872
Population
18,842
Households
2.2
Avg Household Size
41
Median Age
16%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
1,024
Density / Sq Mi
$60,558
Median Household Income
$40,963
Median Earnings
$852
Median Rent
$106,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer a compact multifamily configuration for rental use.
Where is this triplex located?
The property is located at 2704 Idaho Ave Granite City, IL.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Three updated residential units; 1,440‑square‑foot building; Built in 1950
