NEW! Buy and sell safely with virtual options - Learn More
About the Listing 88268 - 1012540
Introducing Underhill Apartments, a 20-unit multifamily investment opportunity located in the heart of Peoria's growing rental market. This stabilized, income-producing property is performing well with strong in-place cash flow and immediate upside potential through renovation and rent growth. Twelve of the twenty units have been fully renovated with modern finishes, updated flooring, kitchens, and bathrooms, commanding premium rents and attracting reliable tenants. Eight remaining units offer a clear path to increased returns for investors seeking value-add potential. Current rents already demonstrate strong performance, and once all units are upgraded, projected income can rise significantly with minimal additional capital. Recent improvements include major mechanical and structural updates-new roofs, updated plumbing, electrical improvements, and boiler upgrades-reducing future maintenance expenses and ensuring long-term operational stability. The property features a solid tenant base supportive housing program residents, contributing to consistent occupancy and predictable revenue. Located near schools, transit, and employment centers, Underhill Apartments offers both immediate cash flow and long-term appreciation potential in one of Central Illinois' most affordable multifamily markets. This is an exceptional opportunity for investors.
Listing Highlights for 1119 N Underhill St
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond:
- Heating: Central Bldg Heat,Gas,Hot Water,Radiators,Baseboard,Radiant
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Exterior Entry,Block,8 ft + pour,Storage Space
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 120x150
- Zoning: MULTI
- Roof: Membrane
- Others:
- Sewer:
- Parking Features: 19-30 Spaces,Common Parking,Lighted,Open,Parking On-Site,Parking-Street
Financial Details
- Tax Amount: $18,560
- Taxes w/Assessments: N/A
- Tax/Property ID: 1805401035
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
1119 N Underhill St Peoria, IL 61606
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
