4423 Menge Ln, Poplar Grove, IL 61065

This exceptional investment opportunity presents a portfolio of four identical, well-maintained two-story townhouses in Poplar Grove, Illinois. Each unit boasts 1,448 square feet of living space, featuring a main level with a living room (including fireplace), kitchen with pantry, full bathroom, laundry facilities, and a spacious balcony. The lower level includes a bedroom with an ensuite bathroom, a mechanical room, and direct access to a two-car garage. Three units feature newer wood-like flooring, while one has carpeting. The property sits on a single lot (APN: 0326406002) and offers a total of 5,768 net rentable square feet. Built in 2004, this 100% occupied property generates a current NOI of $51,456, representing a 9.19% cap rate. Pro forma NOI is projected at $58,656, resulting in a 10.47% pro forma cap rate. The asking price is $560,000, or $140,000 per unit. Conveniently located off Highway 76, just 15 miles from Rockford, this property offers a peaceful suburban setting with easy access to city amenities. This is a turnkey investment ready to generate immediate income.