For more information on this property, contact Schramm & Associates at 563-332-9110 or whyusaschramm@gmail.com

510 27TH Street
Rock Island, Illinois IL 61201
Sold For: $450,000
Listing ID QC4232174
Status Closed
Sold Date 12/19/2022
Price Per Sq Ft $80.82
SqFt 5,568
Acres 0.300
Subdivision None
Year Built 1910

Property Description:

Fantastic 8 unit bldg. On-site manager, well-maintained. Great condition. Over 200k in improvements since last purchased in '99 to include windows, plumbing, electrical, and roof. All utilities are separated. Building rents easily. Close to downtown Rock Island and Arsenal Bridge. On the bus route. Close to bike path. This is a turn key operation, great cap rate, good tenants. Onsite manager who takes care of light maintenance including snow removal, lawn care, and minor repairs. Laundry on-site and off-street parking. Please see "Associated Docs" for financials. This purchase also includes parcel number 07-36-312-001 (adjacent North lot). Taxes and Approx. Lot Size are for both parcels (07-36-312-001 & 07-36-312-002).

Features

Property Type: Residential Income
Property Sub Type: Residential Income
Parking Features: Other
Parking Total: 20
Lot Size Dimensions: 114'x143'x112'x142'
Lot Features: Level
County: Rock Island
Subdivision: None
Year Built: 1910

Interior

Basement: Partial
Heating: Forced Air, Gas, Central
Interior Or Room Features: Cable Available
Laundry Features: Common Area, Owned Equipment

External

Number Of Units Total: 8
Structure Type: Two or More Story
Roof: Shingle
Water Source: Public Sewer, Public
Number Of Central Air Units: 8
Number Of Electric Meters: 9
Number Of Gas Meters: 9
Number Of Heating Units: 9
Number Of Water Heaters: 9
Number Of Water Meters: 10
Manager On Site: yes

Location

Directions: 5th Avenue, S on 27th Street, W. to Property
Elementary School: Longfellow
Middle Or Junior School: Washington
High School: Rock Island
100 Year Plain: No
MLS Area Minor: QCARA Area

Financial

Gross Income: 53330
Gross Scheduled Income: 50280
Miscellaneous Annual Income: 3050
Net Operating Income: 41099
Tax Annual Amount: 6779.76
Tax Year: 2021
Tenant Pays: All Utilities
Operating Expense: 5451
Electric Expense: 1314
Insurance Expense: 2212
Trash Expense: 1440
Water Sewer Expense: 485
Current Financing: Cash Only, Conventional
Disclosed Short Sale: N

Additional

Buyer Agency Compensation: 2
Dual Variable Compensation: no
Documents Available: Other
Documents Count: 4

Zoning Info


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The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals.

The RMLS data on this page was last updated on Thursday, March 28th, 2024.

Listed by: Keller Williams Greater Quad Cities / Midwest Partners Cell: 309-373-0373

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