427 E 4th Street, Alton, IL 62002
- Added:
- Mar 31, 2026
- Days on Market:
- 98
- Last Refresh:
- Jul 6 at 6:06 pm
Property Features for 427 E 4th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
- Parking features
- Driveway
- Appliances
- Gas Water Heater
- Standard status
- Active
- APN
- 23-2-07-14-08-201-016
- Size
- 2,275 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2019
- Tax Annual Amount
- 2998
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1940
- Number of units
- 2
- Building materials
- Brick
Listing agent Nicholas Schranck License #475.194759 (618) 466-1513
Listing office Landmark Realty 3049 Godfrey Road, Godfrey, IL (618) 466-1513
Listing date Mar 31, 2026
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.
HighLights
- Brick multi‑family building built in 1940
- Property has been gutted and is ready for redevelopment
- Natural gas forced‑air heating; window/wall A/C units
- Gas water heater; public water source
- Driveway parking
Overview
The property is described as being in a historic district with charming surroundings and sweeping views of the Mississippi River. While the listing remarks emphasize the redevelopment readiness and structural potential, the building’s current condition is best suited for investors or owner-occupants prepared to renovate and reposition the asset.
For tenants, buyers, or operators seeking a hands-on redevelopment project, this configuration supports adaptive planning within the existing multifamily structure. Because the interior has already been cleared, the next step is defining the intended end use and completing the necessary build-out to bring the property back to rentable condition. If you’re looking for a multifamily opportunity in Alton that can be customized from the ground up, this site provides the starting point based on its current ready-for-redevelopment status.
Local 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 | $25.9k | $11.40 |
| − Vacancy | −$2.0k | −$0.88 |
| EGI | $23.9k | $10.52 |
| − OpEx | −$7.2k | −$3.16 |
| NOI | $16.8k | $7.37 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Alton
- County
- Madison
- State
- Illinois
- Longitude
- -90.179999
- Latitude
- 38.891199
