135 Prairie Ave Decatur, IL 62523

This exceptional investment opportunity presents a four-unit apartment building located at 135 E. Prairie Avenue in Decatur, Illinois. Built in 1880, this charming one-story building sits on a 0.06-acre lot and boasts a desirable downtown location. Currently, all four units are rented, generating a strong annual net operating income (NOI) of $49,865, representing an attractive 8.32% capitalization rate. Each unit is a unique loft condo, featuring desirable features such as cathedral ceilings and exposed brick walls. The property benefits from historically low vacancy rates, making it a reliable income-producing asset. Significant capital improvements totaling nearly $50,000 have been invested in the property over the past two years, including a new roof. The asking price is $599,000, or $149,750 per unit. The property is zoned MUN. Detailed financial information, including the rent roll, is available upon request. Please note that this offering includes only the upper-level residential units