8-Unit Apartment
7346 State Rte. 15 Saint Libory, IL 62282
For Sale
$540,000
Fully occupied eight-unit building with month-to-month leases and 20 on-site parking spaces.
Days on Market54
Property Features for 7346 State Rte. 15
General Information
- Standard status
- Active
- Property subtype
- Commercial
Listing Agency:
National Land Realty, Illinois
(855) 384-5263
Listed By:
Colin Roessler
(855) 384-5263
Source:
Amyleerealty
Added: Jun 1
Changed: Jul 23
Last Checked: Jul 23 at 4:49AM
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 National Land Realty, Illinois
Investment Insights
Based on property information with market context.
This eight-unit apartment building is fully occupied and currently generates gross rental income of approximately $68,700 annually. Units feature a mix of one- and two-bedroom layouts, including seven apartments at approximately 800 square feet and one one-bedroom apartment at approximately 500 square feet. All tenants are on month-to-month leases, giving a new owner flexibility to adjust rents and manage operations over time. The building is supported by established plumbing and electrical systems and includes multiple HVAC units serving the apartments, with a new roof installed in 2024.
The property is located at 7346 State Rte. 15 in Saint Libory, Illinois. Parking totals 20 spaces, providing on-site capacity for tenants and guests.
Operating expenses are estimated at approximately $23,500 annually, supporting estimated current net operating income over $45,000. The remarks also describe an opportunity to increase annual gross income to approximately $78,900 by bringing existing rents closer to market levels, which would increase estimated NOI accordingly.
The property is located at 7346 State Rte. 15 in Saint Libory, Illinois. Parking totals 20 spaces, providing on-site capacity for tenants and guests.
Operating expenses are estimated at approximately $23,500 annually, supporting estimated current net operating income over $45,000. The remarks also describe an opportunity to increase annual gross income to approximately $78,900 by bringing existing rents closer to market levels, which would increase estimated NOI accordingly.
Key Highlights
- Fully occupied 8‑apartment multifamily building in St. Liborty, IL with 100% occupancy and all tenants on month‑to‑month leases.
- Current gross rental income totals approximately $68,700 annually, with an estimated 8.36% cap rate at the $540,000 asking price.
- Projected gross income increases to approximately $78,900, supporting an estimated 10.17% cap rate based on bringing rents closer to market levels.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully occupied eight-unit building with month-to-month leases and 20 on-site parking spaces.
Where is this apartment building located?
The property is located at 7346 State Rte. 15 Saint Libory, IL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Fully occupied 8‑apartment multifamily building in St. Liborty, IL with 100% occupancy and all tenants on month‑to‑month leases.; Current gross rental income totals approximately $68,700 annually, with an estimated 8.36% cap rate at the $540,000 asking price.; Projected gross income increases to approximately $78,900, supporting an estimated 10.17% cap rate based on bringing rents closer to market levels.
