Updated Triplex Rental
2704 Idaho Avenue, Granite City, IL 62040
For Sale
$110,000
Residential Income, Granite City, IL
Property Size1,440 SF
Lot Size0.08 Acres
Price / SF$76.39
Days on Market92
Property Features for 2704 Idaho Avenue
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Parking features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Century 21 Bailey & Company · Century 21 Real Estate
Listed By:
Michelle Orlando · License #475.215512
(618) 931-2121
Added: Aug 10
Changed: Oct 26
Last Checked: Nov 9 at 7:06AM
MLS# 26051029
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,440-square-foot triplex, built in 1950, contains three residential units with updated interiors. The property has vinyl siding, laminate flooring, forced-air heat, and central air conditioning. Public water serves the building, while the roof is shingle. Appliances include microwaves, ranges, free-standing refrigerators, and water heaters.
Located at 2704 Idaho Avenue in Granite City, the property is near Wilson Park, shopping, dining, schools, and major roadways. On-street parking is provided. The 0.0828-acre parcel offers a compact multifamily footprint with three bathrooms identified among the property’s rooms.
Located at 2704 Idaho Avenue in Granite City, the property is near Wilson Park, shopping, dining, schools, and major roadways. On-street parking is provided. The 0.0828-acre parcel offers a compact multifamily footprint with three bathrooms identified among the property’s rooms.
Key Highlights
- Three‑unit multifamily property with 1,440 square feet
- Updated interiors across all three residential units
- Built in 1950 with vinyl siding and a shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,957
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$199,140
$199.1K
Cap Rate 7%
$142,243
$142.2K
Cap Rate 9%
$110,633
$110.6K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$19.7K $13.68/SF
− Vacancy
−$1.6K −$1.11/SF
EGI
$18.1K $12.57/SF
− OpEx
−$8.1K −$5.66/SF
NOI
$10.0K $6.91/SF
Area
Madison County, IL
Vacancy
8.10%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$199,140
Cap Rate 7%
$142,243
Cap Rate 9%
$110,633
Alternative Uses
Best Use
Multifamily LT 5
$151.5K
$132.6K – $176.8K
NOI $10,608 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$142.2K
$124.5K – $166.0K
NOI $9,957 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$392.5K
$343.4K – $457.9K
NOI $27,475 @ 7.0% cap · market cap 24.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with updated interiors, central air, and on-street parking near Wilson Park.
Where is this triplex located?
The property is located at 2704 Idaho Avenue Granite City, IL.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 1,440 square feet; Updated interiors across all three residential units; Built in 1950 with vinyl siding and a shingle roof
