Three-Unit Residential Income
2713 College Avenue Alton, IL 62002
For Sale
$215,500
MULTI_FAMILY - Alton, IL
Property Size2,140 SF
Lot Size0.17 Acres
Price / SF$100.70
Days on Market22
Property Features for 2713 College Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3
- Standard status
- Active
- APN
- 23-2-08-07-11-201-005
- Size
- 2,140 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 3601
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s), Central Air, Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1925
- Building materials
- Steel Siding
Listing Agency:
Landmark Realty
(618) 466-1513
Listed By:
Matt Horn · License #471003243
(618) 466-1513
Added: Jul 2
Changed: Jul 22
Last Checked: Jul 23 at 12:06PM
MLS# 26041738
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.
Investment Insights
Based on property information with market context.
This three-unit residential income property includes one two-bedroom unit and two one-bedroom units. Each unit is under one-year lease terms. The building has new windows, a new roof installed in 2023, and well-maintained interiors. Kitchen appliances remain with the units. Laundry is available in the two-bedroom unit, and an additional washer and dryer are located in the lower level.
The property is located on College Avenue in Alton, IL, next to SIU Dental School.
The owner is responsible for water, sewer, and trash, and the property offers ample off-street parking for tenants.
The property is located on College Avenue in Alton, IL, next to SIU Dental School.
The owner is responsible for water, sewer, and trash, and the property offers ample off-street parking for tenants.
Key Highlights
- 3‑unit rental property next to SIU Dental School; 1 two‑bedroom unit and two one‑bedroom units
- All units on one‑year lease terms; all units under lease with 1‑year terms
- New roof in 2023 and building has all new windows
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.4k | $11.40 |
| − Vacancy | −$1.9k | −$0.88 |
| EGI | $22.5k | $10.52 |
| − OpEx | −$6.8k | −$3.16 |
| NOI | $15.8k | $7.37 |
2,140 SF · lease $11.40/SF/yr · vacancy 7.69% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$225.2K
$197.1K – $262.7K
NOI $15,764 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$211.4K
$185.0K – $246.6K
NOI $14,797 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$583.3K
$510.4K – $680.5K
NOI $40,831 @ 7.0% cap · market cap 18.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit rental property with one two-bedroom and two one-bedroom units, off-street parking, and recent exterior upgrades.
Where is this triplex located?
The property is located at 2713 College Avenue Alton, IL.
What is the asking price?
The asking price for this property is $215,500.
What are key features of this property?
This property features: 3‑unit rental property next to SIU Dental School; 1 two‑bedroom unit and two one‑bedroom units; All units on one‑year lease terms; all units under lease with 1‑year terms; New roof in 2023 and building has all new windows
