Monmouth Multifamily Investment
313 E Broadway, Monmouth, IL 61462
Five-unit multifamily property in Monmouth, Illinois with value-add potential.
Type:Multifamily
- Added:
- Mar 12, 2026
- Days on Market:
- 62
- Last Refresh:
- Mar 19 at 11:00 pm
Property Features for 313 E Broadway
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Kyle Shipman License #475.216160
Listing office Ellsbury Group
Listing date Mar 12, 2026
Source Crexi
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 Ellsbury Group
HighLights
- 100% occupancy provides immediate cash flow.
- Below market average rents offer significant upside potential through strategic renovations and mark‑to‑market leasing.
- Prime location on Broadway in a clean, well‑kept area of Monmouth, near Monmouth College.
- Ample parking with a driveway, grass lot, and streetside options.
- Proximity to larger cities like Galesburg, Peoria, and Davenport provides access to broader infrastructure and amenities.
- Opportunity for value‑add investors due to deferred maintenance needs.
Overview
This five-unit multifamily property is located in Monmouth, Illinois, near Monmouth College. The property features two- and three-bedroom apartments, each with one bathroom. The property is currently 100% occupied, with rents below the market average. Strategic renovations could allow investors to increase rents to market rates. The property is located on Broadway, the main street, and has a driveway and access to grass lot parking, in addition to street parking. The surrounding area has sidewalks and is well-maintained. Monmouth has recently renovated its town center, including the addition of a roundabout. Located in a county with a population of over 16,000, the property is 22 minutes from Galesburg, Illinois, and one hour from Peoria, Illinois, and Davenport, Iowa. The location provides access to both local and larger infrastructure. The property requires deferred maintenance, offering value through location and upside potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Monmouth
- County
- Warren
- State
- Illinois
- Longitude
- -90.645337
- Latitude
- 40.911925
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Five-unit multifamily property in Monmouth, Illinois with value-add potential.
Where is this apartment building located?
The property is located at 313 E Broadway Monmouth, IL.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 100% occupancy provides immediate cash flow.; Below market average rents offer significant upside potential through strategic renovations and mark‑to‑market leasing.; Prime location on Broadway in a clean, well‑kept area of Monmouth, near Monmouth College.
