3440 VILLA RIDGE Pending Save Request In-Person Tour Request Virtual Tour
Peoria,IL 61604
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 8,460 sqft
Price per Sqft $67
MLS Listing ID PA1252264
Originating Board rmlsa
Year Built 1976
Annual Tax Amount $9,547
Tax Year 2023
Lot Size 3.940 Acres
Acres 3.94
Property Description
This fully leased, 8 unit apartment building can generate new owners immediate cash flow, with room for rent increases. Located at the end of a quiet cul de sac, this apartment complex has many updates (roof) and is consistently fully leased. There are 7 units that are 2 bedroom/1 bathroom and one unit (3442 Villa Ridge) that is a 3 bedroom, 2 bathroom unit. 5 of the 7 units that are 2 bedroom and 1 bathroom have been recently renovated (see video walkthrough). Tenants each pay their own Ameren gas and water meters, as well as $25 per month for water (1 water/sewer meter). There is ample parking as well as a fenced in court area and land that would provide an excellent opportunity for building an additional apartment complex, covered parking, pickleball courts or storage spaces. Video Tour of Vacant Unit (2bed/1bath) from 08/01/2024 - https://youtu.be/9ziaREZ0k4U.
Location
State IL
County Peoria
Area Paar Area
Zoning R6
Direction Molleck Dr. to Villa Ridge
Interior
Heating Forced Air,Gas
Cooling Central Air
Flooring Carpet,Concrete,Tile/Vinyl
Fireplace N
Exterior
View true
Roof Type Composition Shingle
Total Parking Spaces 16
Garage 1
Building
Faces Molleck Dr. to Villa Ridge
Sewer Public Sewer
Water Municipal/City
Structure Type Brick,Wood Siding,Frame
Others
Tax ID 13-25-451-011
Security Features Yes