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    400 Broadway Goreville, IL 62939

    Sponsored
    For Sale
    $340,000

    Eight-unit building, excellent ROI potential.

    Property size:
    5,760 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a well-maintained eight-unit apartment building located at 400 S BROADWAY, Goreville, IL 62939. Built in 2007, the property boasts a total of 5,760 square feet and comprises a single building. The layout offers a diverse mix of residential units, ideal for a range of tenants. Upstairs, you'll find four apartments: two one-bedroom units and two two-bedroom units, providing flexibility and appealing to various rental needs. On the ground floor, the property includes a large open area, a dedicated office space, and a one-bedroom apartment, adding to the income potential and versatility of the property. This property is situated in Johnson County, Illinois, offering a strong foundation for a stable and profitable investment. The asking price for this turnkey operation is $340,000. The property's size and configuration make it an attractive option for both seasoned investors and those seeking to enter the multifamily market. With its established rental income streams and potential for further growth, this Goreville apartment building represents a compelling investment opportunity. The property's location and solid construction contribute to its long-term value and potential for appreciation. This is a rare chance to acquire a well-established multifamily property in a desirable location.

    Property Features for 400 Broadway

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,760 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Units
    8

    HighLights

    • Asking price: $340,000
    • 8‑unit apartment building in Goreville, IL
    • 5,760 square feet
    • Built in 2007
    • Single building on a 0.25 acre lot at 400 S Broadway, Goreville, IL 62939.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Goreville
    County
    Johnson
    State
    Illinois
    Longitude
    -88.9724005
    Latitude
    37.5524177

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    FAQs

    What type of property is this?
    Multifamily property - Eight-unit building, excellent ROI potential.
    Where is this multifamily property located?
    The property is located at 400 Broadway Goreville, IL.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: Asking price: $340,000; 8-unit apartment building in Goreville, IL; 5,760 square feet
    Request Owner's contact information
    400 Broadway Goreville, IL 62939
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    Goreville, IL 62939
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    400 Broadway Goreville, IL 62939
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