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603 N Prospect Street Cambridge, IL 61238 • Multi Unit - Multiple • Active

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Description

This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 41 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.

Property Highlights

Property Type: Multi Unit - Multiple

General Information

County: Henry
Listed By:
Lori Bonarek Realty 815-518-2300
MRED MLS
$1,999,999
Est. $12,703/mo
Active
BEDS0 BATHS MLS#12393172
STATUSActive PROPERTY TYPEMulti Unit - Multiple
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Jeff Dellitt
 (563) 343-1028

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603 N Prospect Street, Cambridge, IL 61238.

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Loan Type FHA 30 Year FixedVA 30 year fixed30 yr Jumbo
Purchase Price $1,999,999$1,999,999$1,999,999
Down Payment $70,000$0$400,000
Monthly Mortgage Amount $11,616$12,085$9,337
Taxes $2783$2783$2783
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $1,199$0$0
Monthly Estimated Total $16,181$15,451$12,703

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