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Sold on 02/15/2024

225-229 N Park Ave, Springfield, IL 62702

  • $585,000

    Last sold 02/15/2024 after 35 Days

  • —

    bed

  • —

    bath

Multi-family not for sale
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About 225-229 N Park Ave

Property type Multi-family
Neighborhood
Year built 1965
HOA fee $0/month
Rental estimate
Property description
ATTENTION INVESTORS - 10 FULLY RENTED UNITS! Opportunity awaits to own two neighboring buildings with a total of ten 2 bedroom, 1 bathroom apartments. Enjoy a central location in the heart of Springfield close to shopping, restaurants, schools, churches, Washington Park, Westside & downtown amenities. Building #225 consists of four updated units, a shared laundry area and features a newer concrete drive & a brand new roof in 2023. Building #229 offers six additional apartments. All units have central AC and rear parking. Owner pays for water and trash service. Total rent equals $7,375mo. and could be increased by the new owner at the start of a new lease. Shared laundry facility brings in a bonus income of $300-400/mo. Showings are available to pre-approved buyers only, 9am-5pm Mon-Fri with 24 hour notice. Schedule your showing today!
Listed by
Listing Agent Contact: Pref: 217-685-9575
Listing Office - RE/MAX Professionals
Source: RMLS Alliance mls logo
MLS#CA1026795 • last updated 2 years ago
Movoto checked RMLS Alliance for data 21 minutes ago
Overview
Heating Forced Air, Gas, Central Air
Levels/Style Two Or More Story
MLS # CA1026795
Status Sold
SubType Residential Income
Property Tax 9271
Year Built 1965
Interior
Laundry Common Area
Interior Features Cable Available
Exterior
Foundation Concrete
Roof Shingle
Construction Brick, Vinyl Siding
Parking Assigned, On Street
# of Parking Spaces 10
Lot Features Level
Amenities / Utilities
Water Source Public Sewer, Public
Location
Subdivision None
Elementary School Dubois
Middle School Grant/Lincoln
High School Springfield
APN 14-29.0-479-027
Directions West Washington To Park Avenue
Multifamily Details
Total # of Units 10
Net Operating Income -1896
Gross Income 7375
Gross Scheduled Income 7375
Lot/ Land Details
Add'l Parcel(s) 14-29.0-479-026
Road Surface Paved
Rental est.: $1,113/month
Gross rent multiplier: 43.8
  • 225-229 N Park Ave
    $585K
  • Historic West-Side
    $152K +1% y/y
  • 62702
    $129K +3% y/y
  • Springfield
    $199K +3% y/y
No chart available
Statistics calculated by Movoto

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3/10
Dubois Elementary School
public Grades K-5
Springfield School District 186
2/10
U S Grant Middle School
public Grades 6-8
Springfield School District 186
5/10
Springfield High School
public Grades 9-12
Springfield School District 186
Source: GreatSchools.org © 2026. All rights reserved.

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  • Sangamon County
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  • 225-229 N Park Ave
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