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824 E Ridgely Ave, Springfield, IL 62702

  • $399,900

  • bed

  • bath

Multi-family for sale 6 days
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About 824 E Ridgely Ave

Property type Multi-family
Neighborhood
Year built 1993
HOA fee $0/month
Movoto estimate
Rental estimate
Property description
This 4,500 Square Foot, Six unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself, has undergone significant updating, including a new roof and all new siding in 2021. All six units have been renovated. With updates like multiple new HVAC systems and water heaters. the sale also includes an additional parcel to the west, with the potential to rebuild another six-unit structure on the site where a previous building stood. Prospective buyers should explore grant programs that may support this rebuilding opportunity, adding further value to the property. This is an ideal opportunity for investors looking for a property with minimal initial maintenance and significant growth potential. "Professional photography was taken prior to units being occupied"
Listed by
Listing Office - The Real Estate Group, Inc.
Source: RMLS Alliance mls logo
MLS#CA1043403 • last updated 6 days ago
Movoto checked RMLS Alliance for data 14 minutes ago
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Overview
Cooling/AC Central Air
Heating Forced Air, Natural Gas
Levels/Style Apartment Building
MLS # CA1043403
Status Active
SubType Residential Income
Property Tax 7159.16
Year Built 1993
Interior
Laundry None
Exterior
Roof Shingle
Construction Wood Siding
Parking Assigned
# of Parking Spaces 6
Lot Features Level
Amenities / Utilities
Water Source Public Sewer, Public
Location
Subdivision None
High School Springfield District #186
APN 14-22.0-401-019
Directions From North 9th St To W On Ridgely
Multifamily Details
Total # of Units 6
Net Operating Income 32883
Expense: Water/Sewer 3600
Expense: Operating 20678
Expense: Manager 3673
Expense: Maintenance 2500
Expense: Trash 1680
Gross Income 60720
Gross Scheduled Income 60720
Lot/ Land Details
Road Surface Paved
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Source: GreatSchools.org © 2026. All rights reserved.

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  • Real Estate
  • IL
  • Sangamon County
  • Springfield
  • 62702
  • 824 E Ridgely Ave

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