1950 E Old Pine Bluff Rd
Overview
This is your chance to own a unique multi-unit property in the thriving community of Morris, IL. This dual-building property, sprawled over a substantial 0.47-acre lot with a single PIN, offers exceptional income potential and is now available for sale after being owned for over 45 years by the seller. Featuring four rental units, the property includes a side-by-side ranch-style duplex and a side-by-side two-story duplex. Each unit boasts three comfortable bedrooms, an eat-in kitchen, a living room and a well-appointed bathroom, ensuring spacious living arrangements and strong rental appeal. With current rents significantly below market value - where three-bedroom apartments in Morris rent for $1,250 - there is a considerable upside potential for adjusting rents to match market standards, resulting in enhanced cash flow. Tenants cover all their utility costs, and all are on flexible month-to-month leases, providing new ownership with the agility to adjust operations as needed. The ranch duplex features a durable vinyl exterior, while the two-story duplex combines classic brick with vinyl, offering lasting curb appeal and low maintenance requirements. Situated in a prime location with convenient entrances from both Pine Bluff Rd and Old Pine Bluff Rd, the property ensures both privacy and ease of access for tenants. Attractively priced at just $106,250 per unit, this property presents an exceptional investment opportunity to acquire four income-generating rental units with realistic pathways to significantly boost revenue streams through market adjustments. Please note, due to tenant arrangements, a minimum of 24 hours notice is required to schedule property showings.
Details
General
- Type
- Other types
- Bedrooms
- 12
- Bathrooms
- 4 full
- Lot size
- 0.47 acre lot
- Year built
- 1964
- Pool
- No
- Parking spaces
- 10
Listing information
- MLS #
- MRD12563755
- APN
- 0511477003
- Listing provided by
- Shawn Hornsby, Century 21 Coleman-Hornsby
- Attribution Contact
- +18154746670
- Status
- Sold
Location
- County
- Grundy
- Address
- 1950 E Old Pine Bluff Rd, Morris, IL 60450