$56,000
$59,900
6.5%For more information regarding the value of a property, please contact us for a free consultation.
122 Lazarcheff DR East St Louis, IL 62206
3 Beds
1 Bath
988 SqFt
Key Details
Sold Price $56,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 988 sqft
Price per Sqft $56
Subdivision Parklane Manor 1St Add
MLS Listing ID 24046230
Sold Date 10/18/24
Bedrooms 3
Full Baths 1
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 75x110x60x110
Property Sub-Type Single Family Residence
Property Description
Seize the opportunity to purchase a tenant-occupied property guaranteeing immediate rental income! The interior of the property was updated in April 2024. Property is tenant occupied, ensuring stability and peace of mind. The current annual lease provides a steady monthly rental income of $800. Key Investment Highlights: reliable lease in place until April 2025, interior updates, average operating expenses are $4756 which yeild an impressive CAP Rate of 6.5%. 10% vacancy rate factored in. Tenant pays all utilities, gas, electric, water, sewer, and trash, reducing landlord expenses. This property not only provides a reliable income stream but also offers excellent potential for increased income as current rent is below market. The low annual expenses and a strong CAP rate makes the decision easy. What are you waiting for? This investment is designed to maximize your returns by adding an asset producing property to your portfolio!
Location
State IL
County St. Clair
Rooms
Basement None
Main Level Bedrooms 3
Interior
Interior Features Open Floorplan, Eat-in Kitchen, Pantry
Heating Forced Air, Natural Gas
Cooling Central Air, Electric
Flooring Carpet
Fireplace Y
Appliance Microwave, Gas Range, Gas Oven, Refrigerator, Gas Water Heater
Laundry Main Level
Exterior
Parking Features false
Building
Lot Description Level
Story 1
Sewer Public Sewer
Water Public
Architectural Style Traditional, Bungalow
Level or Stories One
Structure Type Vinyl Siding
Schools
Elementary Schools Cahokia Dist 187
Middle Schools Cahokia Dist 187
High Schools Cahokia
School District Cahokia Dist 187
Others
Ownership Private
Acceptable Financing Cash, 1031 Exchange, Private Financing Available, Conventional
Listing Terms Cash, 1031 Exchange, Private Financing Available, Conventional
Special Listing Condition Standard
Read Less
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Bought with PatriceTucker