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    3609 Iles Ave Springfield, IL 62711

    For Sale
    $2,506,600

    High-Yield Multifamily Investment

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional portfolio comprises six meticulously maintained single-family homes situated across desirable Illinois neighborhoods: Springfield, Elk Grove Village, Collinsville, Bloomingdale, Joliet, and Decatur. The properties boast a combined NOI of $175,462, representing a compelling 7.00% capitalization rate on an asking price of $2,506,600. Each home is move-in ready, featuring spacious layouts with upgraded kitchens and bathrooms. Many include finished basements, fireplaces, and private outdoor spaces. Recent improvements across the portfolio include new roofs, fresh paint, updated flooring, and remodeled kitchens and baths, minimizing maintenance needs and maximizing rental income. The properties exhibit excellent curb appeal, with well-maintained yards and outdoor amenities. This turnkey portfolio presents a rare opportunity for investors seeking a high-yield, low-maintenance investment in the Illinois real estate market. The portfolio's diverse geographic locations across multiple counties (Sangamon, Cook, Madison, DuPage, Will, and Macon) offer diversification and resilience. This is an ideal investment for those seeking immediate cash flow and long-term appreciation potential. The properties are located at 3609 W Iles Ave, Springfield, IL 62711

    Property Features for 3609 Iles Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    6

    HighLights

    • Six meticulously maintained single‑family homes in desirable Illinois locations (Springfield, Elk Grove Village, Collinsville, Bloomingdale, Joliet, and Decatur).
    • $2,506,600 asking price with a 7.00% capitalization rate and $175,462 Net Operating Income (NOI).
    • Move‑in ready condition with upgraded kitchens and bathrooms; many feature finished basements, fireplaces, and private outdoor spaces.
    • Recent renovations including new roofs, fresh paint, updated flooring, and remodeled kitchens and baths.
    • Turnkey portfolio offering high yield and low maintenance, located across multiple Illinois counties for geographic diversification.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.721315
    Latitude
    39.7712126

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield Multifamily Investment
    Where is this multifamily property located?
    The property is located at 3609 Iles Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $2,506,600.
    What are key features of this property?
    This property features: Six meticulously maintained single-family homes in desirable Illinois locations (Springfield, Elk Grove Village, Collinsville, Bloomingdale, Joliet, and Decatur).; $2,506,600 asking price with a 7.00% capitalization rate and $175,462 Net Operating Income (NOI).; Move-in ready condition with upgraded kitchens and bathrooms; many feature finished basements, fireplaces, and private outdoor spaces.
    Request Owner's contact information
    3609 Iles Ave Springfield, IL 62711
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    Springfield, IL 62711
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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
    3609 Iles Ave Springfield, IL 62711
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