VIEWING: SUNDAY, FEBRUARY 1st~ 2:30-4:30PM
Discover your chance to own a potential filled, income-producing asset in the heart of East St. Louis. This partially leased 16-unit building generates $5,300 in monthly rental income at the current rental rates, offering immediate cash flow and long-term investment potential. The building features 16 studio apartments with each unit on individual electric meters and breaker box with radiant heating. Currently, the owner pays for water, trash and gas for the building with the tenants responsible for electric, keeping operational costs manageable and transparent. All units share two continuous pumping hot water heaters and have radiant heat through a gas-powered boiler. In addition, a new roof was installed on the building in 2020. Zoned C-Commercial within the City of East St. Louis zoning jurisdiction, the building is currently operating as a multi-unit apartment building, with any alternate use requiring city approval. Situated on a 0.47+/- acre corner lot with dedicated rear parking with additional off-street parking available and conveniently located near public transit, schools, and major Metro East roadways, this property combines accessibility with strong rental appeal. With 11 rented units, this is a smart investment whether you are expanding your portfolio or stepping into multifamily real estate for the first time.