Four-Unit Residential Income
For Sale
$450,000
Pending
820 Cottage Grove Avenue, Rockford, IL 61103
Well-maintained four-unit building with three leased units, two-bedroom layouts, and a detached four-car garage.
Property Size3,688 SF
Days on Market101
Property Features for 820 Cottage Grove Avenue
General Information
Standard status
Pending
Size
3,688 SF
Property subtype
Two to Four Units / 1 Story Unit/S
Site & Location
Neighborhood
Edgewater
Taxes and HOA fees
Annual Taxes
$5,691
Amenities
Central Air
Forced Air, Natural Gas
Yes
Natural Gas
Full
Refrigerator, Stove/Cooktop
No
Shingle
Brick/Stone
Main Floor Primary
Building Details
Year Built
1956
Units
4
Listing Agency:
Gambino Realtors
Listed By:
Aimee Leon · License #475201058
(815) 282-2222
Source:
Compass
Added: Jul 21
Changed: Oct 27
Last Checked: Oct 28 at 11:31AM
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 Gambino Realtors
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Investment Insights
Based on property information with market context.
This well-maintained four-unit residential income property features two-bedroom, one-bath apartments with a living room and an eat-in kitchen. Stoves and refrigerators are included in each unit. Two of the units also have in-unit laundry hookups for added convenience. Tenants are responsible for separate utilities, and units include air conditioning.
The property includes a full basement offering additional usable space. A detached four-car garage provides parking and storage flexibility. Three units are currently leased, and the property is being sold as-is.
The property includes a full basement offering additional usable space. A detached four-car garage provides parking and storage flexibility. Three units are currently leased, and the property is being sold as-is.
Key Highlights
- Four‑unit property built in 1956, with 3 units currently leased
- Each unit has 2 bedrooms, 1 full bath, a living room, and an eat‑in kitchen with stove and refrigerator included
- Two units include in‑unit laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,140
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,800
$482.8K
Cap Rate 7%
$344,857
$344.9K
Cap Rate 9%
$268,222
$268.2K
Market Conditions
NOI Build-Up for 3,688 SF
Gross rent
$35.8K $9.72/SF
− Vacancy
−$1.4K −$0.37/SF
EGI
$34.5K $9.35/SF
− OpEx
−$10.3K −$2.81/SF
NOI
$24.1K $6.55/SF
Area
Rockford, IL
Vacancy
3.80%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,800
Cap Rate 7%
$344,857
Cap Rate 9%
$268,222
Alternative Uses
Best Use
Multifamily LT 5
$344.9K
$301.8K – $402.3K
NOI $24,140 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$300.4K
$262.9K – $350.5K
NOI $21,030 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$981.0K
$858.4K – $1.14M
NOI $68,668 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
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Business Placement
Demographics for 61103, IL
23,294
Population
11,271
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
16.3 sq mi
ZIP Area
1,429
Density / Sq Mi
$47,390
Median Household Income
$34,935
Median Earnings
$952
Median Rent
$114,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit building with three leased units, two-bedroom layouts, and a detached four-car garage.
Where is this quadplex located?
The property is located at 820 Cottage Grove Avenue Rockford, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four‑unit property built in 1956, with 3 units currently leased; Each unit has 2 bedrooms, 1 full bath, a living room, and an eat‑in kitchen with stove and refrigerator included; Two units include in‑unit laundry hookups
