Homes for sale - 3440 VILLA RIDGE, Peoria, IL 61604

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Lisa Carstens

lisacarstenshomes@gmail.com +1(563) 370-3119

Listed by Jessica Ball • Re/Max Traders Unlimited

$ 575,000

Est. payment | -/mo

8,460 SqFt

Save

$ 575,000

Est. payment | -/mo

Save

8,460 SqFt

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

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(563) 370-3119

lisacarstenshomes@gmail.com

2550 Middle Rd. Suite #601 Bettendorf, IA 5225722

3440 VILLA RIDGE Peoria, IL 61604