Four-Unit Residential Income
820 Cottage Grove Avenue Rockford, IL 61103
For Sale
$460,000
Pending
Well-maintained four-unit building with three leased units, two-bedroom layouts, and a detached four-car garage.
Property Size3,688 SF
Days on Market30
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
Building Details
Year Built
1956
Listing Agency:
Gambino Realtors Home Builders
(815) 516-7879
Listed By:
Aimee Leon · License #475201058
(815) 516-7879
Source:
Compass
Added: Jul 1
Changed: Jul 22
Last Checked: Jul 24 at 1:07PM
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 Home Builders
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 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 | $35.8k | $9.72 |
| − Vacancy | −$1.4k | −$0.37 |
| EGI | $34.5k | $9.35 |
| − OpEx | −$10.3k | −$2.81 |
| NOI | $24.1k | $6.55 |
3,688 SF · lease $9.72/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$344.9K
$301.8K – $402.3K
NOI $24,140 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$300.4K
$262.9K – $350.5K
NOI $21,030 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$981.0K
$858.4K – $1.14M
NOI $68,668 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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 $460,000.
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
