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1950 E Old Pine Bluff Road, Morris, IL 60450

Beds
12
Baths
4

View property features, location on map, relevant school information and overview from seller's agent.

Listed byCentury 21 Coleman-Hornsby
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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.

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
12
Number of bathrooms
4
Lot size (acres)
0.47
Year built
1964

Utilities

Heating
Electric
Sewer
Septic tank
Water
Well

Taxes

Tax Annual Amount (2024)
$9,042.58

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: Midwest Real Estate Data (MRED) MLS®#: 12563755 Last checked:

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.