140 College St.

4 Unit Multifamily Property On A Corner Lot, In The Historic District Of Elgin Near Downtown. Freshly Painted Outside & Fully Compliant With All City Requirements. 2 Two Bedroom Units And 2 One Bedroom Units With Mainly Month To Month Leases Occupied By Longer Term Tenants! The Buyer Has the Option To Lock Current Tenants Into A Lease If The Rent Is Agreed To Market Rent Or Have The Flexibility With The Month To Month Lease To Get New Tenants Willing To Pay Higher Market Rent. Well Maintained Building! Great Cash Flow! 3 Of The Units Have Been Updated/Remodeled Within The Last Five Years Including Newer Appliances. Newer Water Heater, Appliances, Furnace, In Unit #3 With Hardwood Floors. Unit #4 Has Newer Fridge And Stove. Large Storage & Work Area In Basement. Newer Sump Pump. Newer Water & Sewer Service To Street. Newer Flat Roof Less Than 4 Years Old! Great Investment Opportunity! 100% Occupied! - Tenants pay the utilities upstairs and the landlord pays for the utilities for the downstairs units. Expenses listed are those paid by the landlord only, including $1000 a year estimated for landscaping and snow removal.