Quadplex Property with New
For Sale
$250,000
524 E Ridgely Avenue #G H I J K & L, Springfield, IL 62702
Two-building multifamily asset with full occupancy, tenant-paid utilities, and updated siding on the four-unit building.
Property Size6,000 SF
Days on Market103
Property Features for 524 E Ridgely Avenue #G H I J K & L
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
6
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$46,200
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$6,625
Building Details
Building Size
6,000 SF
Year Built
1983
Buildings
2
Units
6
Listing Agency:
The Real Estate Group, Inc.
(217) 306-1000
Listed By:
Jami Winchester · License #475109074
(217) 306-1000
Source:
Craggsrealtors
Added: May 11
Changed: Aug 20
Last Checked: Aug 20 at 4:17AM
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 The Real Estate Group, Inc.
Investment Insights
Based on property information with market context.
The property contains six residential units across two buildings: one fourplex and one duplex. Built in 1983, the asset is fully occupied. A roof layover was installed in August 2024, and the fourplex has new siding. Tenants pay all utilities, while the owner covers garbage expense.
Located at 524 E. Ridgely Avenue in Springfield, the property includes units identified as #G, H, I, J, K, and L. Its configuration combines a four-unit building with a separate two-unit building, creating a six-unit multifamily layout within one property.
Located at 524 E. Ridgely Avenue in Springfield, the property includes units identified as #G, H, I, J, K, and L. Its configuration combines a four-unit building with a separate two-unit building, creating a six-unit multifamily layout within one property.
Key Highlights
- Six residential units across two buildings: one 4‑plex and one duplex
- Fully occupied property
- Roof layover installed in August 2024
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 62702, IL
33,712
Population
17,083
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
90%
High-School Grad
15.4 sq mi
ZIP Area
2,189
Density / Sq Mi
$52,748
Median Household Income
$38,160
Median Earnings
$858
Median Rent
$102,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-building multifamily asset with full occupancy, tenant-paid utilities, and updated siding on the four-unit building.
Where is this quadplex located?
The property is located at 524 E Ridgely Avenue #G H I J K & L Springfield, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Six residential units across two buildings: one 4‑plex and one duplex; Fully occupied property; Roof layover installed in August 2024
