Four-Unit Residential Income
506 N 17th Street Belleville, IL 62226
506 N 17th Street, Belleville, IL, 62226
$178,000
For Sale
$178,000
MULTI_FAMILY - Belleville, IL
Property Size1,865 SF
Lot Size0.27 Acres
Price / SF$95.44
Days on Market22
Property Features for 506 N 17th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 3, Bedroom 3, Basement, Bathroom 2, Bedroom 2, Bedroom 1
- Parking features
- Driveway
- Basement
- Unfinished
- Appliances
- Electric Range, Refrigerator
- Standard status
- Active
- APN
- 08-21.0-111-006
- Size
- 1,865 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 3339
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air, Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1907
- Number of units
- 3
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing agency
Real Broker LLC
(630) 423-5891
Listed by
Jake Kline · License #2020015376
(855) 450-0442
Added: Jul 1 Updated: Jul 22 at 12:34PM Checked: Jul 22 at 6:06PM
MLS# 26041866
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 residential income property is configured as three units plus an attached garage being rented as a fourth unit. Tenants are responsible for their own electricity, with each unit served by its own meter. Water/sewer and trash are included in the rent.
The garage holds up to six cars and has previously been used as a workshop. The three main units have undergone updates including new flooring and paint, and newer appliances. The lower-level HVAC is described as new, and the property has newer electric with three separate 100-amp services and three separate furnaces. Each unit is stated as code compliant, and two of the units include window A/C.
Per the listing, current rents are $750, $675, and $900 for the three units, and $300 for the garage unit.
The garage holds up to six cars and has previously been used as a workshop. The three main units have undergone updates including new flooring and paint, and newer appliances. The lower-level HVAC is described as new, and the property has newer electric with three separate 100-amp services and three separate furnaces. Each unit is stated as code compliant, and two of the units include window A/C.
Per the listing, current rents are $750, $675, and $900 for the three units, and $300 for the garage unit.
Key Highlights
- 3‑unit property with additional garage space used as a 4th rented unit (garage holds up to 6 cars)
- Current rents: $750, $675, $900, and $300 for the garage unit
- Tenants pay their own electricity via separate meters; water/sewer and trash included in the rent
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 | $23.5k | $12.60 |
| − Vacancy | −$1.5k | −$0.82 |
| EGI | $22.0k | $11.78 |
| − OpEx | −$6.6k | −$3.53 |
| NOI | $15.4k | $8.25 |
1,865 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$219.7K
$192.3K – $256.3K
NOI $15,380 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$197.9K
$173.2K – $230.9K
NOI $13,855 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$441.5K
$386.3K – $515.1K
NOI $30,906 @ 7.0% cap · market cap 17.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four rentable units with separate electric meters; water/sewer and trash are included in the monthly rent.
Where is this quadplex located?
The property is located at 506 N 17th Street Belleville, IL.
What is the asking price?
The asking price for this property is $178,000.
What are key features of this property?
This property features: 3‑unit property with additional garage space used as a 4th rented unit (garage holds up to 6 cars); Current rents: $750, $675, $900, and $300 for the garage unit; Tenants pay their own electricity via separate meters; water/sewer and trash included in the rent
