554 Main St Decatur, IL 62522

This exceptional multifamily investment opportunity presents a 9-unit apartment complex ideally situated near downtown Decatur, Illinois. The property comprises two buildings – a seven-unit building and a duplex – totaling 0.34 acres. Both buildings boast a 100% occupancy rate, generating a substantial net operating income (NOI) of $49,413, representing a compelling 10.98% capitalization rate. The asking price is $450,000, or $50,000 per unit. Built in 1925 and extensively renovated in 2023, the property features modern updates throughout, including new or updated kitchens and bathrooms with tile flooring, LVP flooring, windows, carpet, light fixtures, and updated HVAC systems, electrical, plumbing, and water heaters. Individual unit meters ensure efficient utility management. The seven-unit building features vinyl siding, while the duplex showcases a Craftsman style. Ample parking is available with 12 spaces. The property is zoned MUN and benefits from a completed home inspection and all necessary repairs. This turnkey package presents a low-maintenance investment with significant value-add potential through future rent increases. The property is located at 554 and 562 W Main St, Decatur, IL 62522.