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315 N 1St St Monmouth, IL 61462

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Ten-unit multifamily property in Monmouth, Illinois with value-add potential.

Property Features for 315 N 1St St

General Information

Standard status
Active

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Listing Contact
Kyle Shipman
Source: Crexi

Listing Agency: Ellsbury Group Listing Agent: Kyle Shipman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Monmouth Multifamily Investment Opportunity

This ten-unit multifamily property is located in Monmouth, Illinois, near Monmouth College. The property features ten one-bedroom, one-bathroom apartments. Property management companies in the area are available to service the property at market rates. The property is currently at 100% occupancy with below-market average rents, offering investors the potential to increase revenue through strategic renovations and mark-to-market leasing. The city of Monmouth has recently renovated its town center, including the addition of a large roundabout. The property is located off Broadway at 315 & 311 N 1st St, situated on a street with sidewalks in a well-maintained area of town. Streetside and alleyway parking are available. 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 offers value through its location and upside potential for value-add investors, with deferred maintenance to be addressed.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Monmouth
County
Warren
State
Illinois
Longitude
-90.646865
Latitude
40.914193

FAQs

What type of property is this?
Apartment building - Ten-unit multifamily property in Monmouth, Illinois with value-add potential.
Where is this apartment building located?
The property is located at 315 N 1St St Monmouth, IL.
What are key features of this property?
This property features: - 100% Occupancy; - Value-Add Opportunity through Strategic Renovations and Mark-to-Market Leasing; - Located in the Heart of Monmouth, IL, near Monmouth College
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