Four-Unit Residential Income
For Sale
$460,000
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
Price / SF$124.73
Days on Market102
Property Features for 820 Cottage Grove Avenue
General Information
Standard status
Active
Size
3,688 SF
Property subtype
Two to Four Units / 1 Story Unit/S
Taxes and HOA fees
Annual Taxes
$5,481
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 1
Changed: Oct 10
Last Checked: Oct 9 at 11:14PM
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
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
5.25%
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 5.25%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
