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Sold on 08/02/2023

862 Loraine Ave, Springfield, IL 62704

  • $275,000

    Last sold 08/02/2023 for $505K

  • —

    bed

  • —

    bath

Multi-family not for sale
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About 862 Loraine Ave

Property type Multi-family
Neighborhood
Year built 1929
HOA fee $0/month
Lot size 0.51 Acre
Movoto estimate
Rental estimate
Property description
Washington Park rentals - 8 (1bd-1ba) units in 2 buildings walking distance to the park. Long time tenants - teachers, residents, and nurses. All units have been updated as tenants have transitioned; kitchen, bath, appliances, flooring, etc.. 6 carports and 2 parking spots for residents. The original character of the property and units have been preserved; crown molding, hardwood floors, trim, window and door trim, etc.. Each unit has a separate dining room and screened in sunroom which makes these units very desirable for location and size. Laundry is provided in lower level of one of the buildings.
Listed by
Listing Agent Contact: Pref: 217-638-1360
Listing Office - The Real Estate Group, Inc.
Source: RMLS Alliance mls logo
MLS#CA1022981 • last updated 2 years ago
Movoto checked RMLS Alliance for data 1 minute ago
Overview
Heating Electric, Gas Water Heater, Window Unit(s)
Levels/Style Apartment Building
MLS # CA1022981
Status Sold
SubType Residential Income
Lot Size (Acres) 0.51
Property Tax 10076
Year Built 1929
Interior
Laundry Common Area
Interior Features Storage, Cable Available, High Speed Internet
Exterior
Foundation Brick, Concrete
Roof Shingle
Construction Aluminum Siding
Parking Carport, Detached, On Street, Parking Pad
# of Parking Spaces 8
Lot Features Level
Amenities / Utilities
Water Source Public Sewer, Public
Location
Subdivision Washington Park
High School Springfield District #186
APN 14320427016
Directions North On MacArthur Blvd, West On Fayette, North On Loraine, Properties On The Right Side
Multifamily Details
Total # of Units 8
Net Operating Income 45626
Expense: Operating 9913
Expense: Maintenance 883
Expense: Trash 1080
Gross Income 65615
Expense: Electricity 2140
Gross Scheduled Income 64415
Lot/ Land Details
Add'l Parcel(s) 14320427017
Road Surface Paved
$275K
Range: $206K-$343K
Last 30 days 
Rental est.: $932/month
Gross rent multiplier: 45.2
  • Aug 2023
    Public Records
  • Aug 8, 2023 Sold
    $505,000 (+53.0%)
  • Jun 2019
    Public Records
  • Jun 28, 2019 Sold
    $330,000
  • 862 Loraine Ave
    $505K
  • Historic West-Side
    $160K +6% y/y
  • 62704
    $210K +10% y/y
  • Springfield
    $199K +3% y/y
No chart available
Statistics calculated by Movoto

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5/10
Springfield High School
public Grades 9-12
Springfield School District 186
Source: GreatSchools.org © 2026. All rights reserved.

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