422 South Lincoln Avenue

Springfield, IL 62704

$395,000
Price
—
Beds
5,000 Sq. Ft.
$79 / Sq. Ft.
5,000
Sq. Ft.
$79
per Sq. Ft.

Description

Price adjusted to freshly appraised value! An incredible opportunity awaits with this Beautiful Multifamily property! This 8-unit Boasts a 1 year, renewable master Lease that pays $6200 per month that eliminates concerns with vacancy! The entire building has been updated with modern amenities and features during 2023-2024. Each unit is 1 bed, 1 bath, and a full sized kitchen. Additionally, each unit is separately metered for electric. Feel free to walk the property, but please do not disturb tenants...Price adjusted to freshly appraised value! An incredible opportunity awaits with this Beautiful Multifamily property! This 8-unit Boasts a 1 year, renewable master Lease that pays $6200 per month that eliminates concerns with vacancy! The entire building has been updated with modern amenities and features during 2023-2024. Each unit is 1 bed, 1 bath, and a full sized kitchen. Additionally, each unit is separately metered for electric. Feel free to walk the property, but please do not disturb tenants showings can be scheduled with Contingent offers. SQFT is approximate not guaranteed. Current Cap rate is 9.92%
  1. Listed by Jay Myers • Keller Williams Capital • Pref: 217-502-9339

Property Details for 422 South Lincoln Avenue

Parking Total
0.0
Subdivision Name
Springfield

Location

Listing Courtesy of Keller Williams Capital
Add your commute
LISTING UPDATED: 06/15/2024 03:01 PM

Property Details for 422 South Lincoln Avenue

StatusActive
MLS #CA1029287
Days on Market26
Taxes$3,004 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Residential Income
Year Built1920
Lot Size0.09 AC / 3,750 SF
CountySangamon County

Location

Listing Courtesy of Keller Williams Capital
Add your commute

Building Information for 422 South Lincoln Avenue

Stories-Residences8Year Built1920Building Size-Lot Size0.09 AC / 3,750 SF

Payment Calculator

$2,406 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,156

Property Taxes

$250

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 422 South Lincoln Avenue

Summary
Location and General Information
  • City: Springfield
  • County Or Parish: Sangamon
  • Directions: Traveling south on west Monroe turn left onto South Lincoln property located on left hand side.
  • Latitude: 39.79817
  • Longitude: -89.672691
  • MLSArea Minor: Springfield
  • Postal Code: 62704
  • State Or Province: IL
Taxes and HOA Information
  • Parcel Number: 14-33.0-105-010
  • Tax Annual Amount: $3,004
  • Tax Legal Description: N 50' W 75' L 20 SUB SANG COUNTY FAIRGROUNDS N PT NW 33-16-5
  • Tax Year: 2023
School Information
  • High School: Springfield District #186
Parking
  • Parking Features: On Street
Property
Lot Information
  • Structure Type: Apartment Building
  • Building Area Total: 5000.0
  • Lot Features: Level
  • Lot Size Dimensions: 50x75
  • Number Of Units Total: 8
  • 100 Year Plain: No
Property and Assessments
  • Documents Available: Legal Description
  • New Construction: No
  • Year Built: 1920
  • Year Built Source: Unable to Verify Actual Age
Utilities
  • Number Of Electric Meters: 9
  • Number Of Gas Meters: 1
  • Numberof Water Meters: 1
  • Water Sewer Expense: $2,400
  • Water Source: Public Sewer, Public
Interior and Exterior Features
Exterior Features
  • Roof: Rubber, Shingle
  • Construction Materials: Brick, Vinyl Siding
Interior Features
  • Basement: Full, Unfinished
  • Heating: Gas, Gravity, No Cooling
  • Laundry Features: None
  • Number Of Central Air Units: 0
  • Number Of Dishwashers: 0
  • Number Of Dryers: 0
  • Number Of Heating Units: 1
  • Number Of Ranges: 8
  • Numberof Refrigerators: 8
  • Number Of Washers: 0
  • Number Of Water Heaters: 2
  • Number Of Window Units: 0
  • Operating Recording Device: Audio & Video
Multi Family
Income & Expenses
  • Electric Expense: $1,200
  • Gross Income: $74,400
  • Gross Scheduled Income: $74,400
  • Insurance Expense: $1,500
  • Maintenance Expense: $5,000
  • Manager Expense: $0
  • Net Operating Income: $58,056
  • Operating Expense: $13,340
  • Advertising Expense: 0
  • Gas Expense: 1800
  • Misc Annual Income: 0
  • Trash Expense: $1,440
Unit 1
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
Unit 2
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
Unit 3
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
Unit 4
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 0
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
Rental
Rent Information
  • Annual Vacancy Factor: 0

Property History for 422 South Lincoln Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 422 South Lincoln Avenue

Taxable ValueLand$2,963Additions$31,016Total$33,979
Tax Record2023$3,004 ($250 / month)
Home Facts
Lot Size3,778 SqFtStyleMiscellaneous CommercialCountySANGAMONAPN14-33.0-105-010

Schools near 422 South Lincoln Avenue

This home is within Springfield School District 186.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Dubois Elementary School
PublicK to 5

U S Grant Middle School
Public6 to 8

Springfield High School
Public9 to 12

Douglas School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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422 South Lincoln Avenue is a multi-family home for sale in Springfield, IL 62704. This property was listed for sale on May 20, 2024 by Keller Williams Capital, it's currently listed at $395,000. It has been on the market for a total of 26 days and was last sold on February 22, 2024. This listing's school district is Springfield School District 186. Nearby schools include Dubois Elementary School, U S Grant Middle School and Springfield High School. 422 South Lincoln Avenue is a 0-bed, 0-bath, 5,000 sqft multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Capital

Based on information from one of the following Multiple Listing Services: RMLS Alliance. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by RMLS Alliance is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.