110 Prairie St Marengo, IL 60152

This exceptional investment opportunity presents a fully occupied, 10-unit apartment building located at 110 E Prairie St, Marengo, IL 60152. Boasting a 9.82% cap rate and a current NOI of $83,389, this stabilized Class C property offers significant potential for strong returns. Built in 1900, the brick and block construction ensures minimal maintenance. The property features a 100% occupancy rate as of August 14, 2024, generating a gross annual income of $107,400. Tenants are responsible for their own electricity, while the owner covers real estate taxes and water expenses. The property's annual expenses total $24,011, including $5,800 for water, $1,380 for trash, and $1,800 for insurance. No natural gas is used on the property. Priced at $849,000 ($84,900 per unit), this prime investment is situated in downtown Marengo, within walking distance of local amenities such as restaurants, banks, and bars. The property's strong cash flow, low operational costs, and minimal management requirements make it an attractive proposition for both experienced and new investors seeking a low-maintenance, high-return asset. The permitted zoning is commercial. This is a turnkey opportunity with immediate cash flow.