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$ 649,900
Est. payment | /mo
5,227 Sqft Lot
$ 649,900
Est. payment | /mo
5,227 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12645215
Maintenance Fees $4,182
Year Built 1960
Annual Tax Amount $8,399
Tax Year 2025
Lot Size 5,227 Sqft
Lot Dimensions 43.5x120
Property Sub-Type Multi Family 5+
Property Description
High Yield 6 Unit Multifamily Investment - DeKalb, IL. Rare 6unit multifamily opportunity in the thriving DeKalb rental market, offering investors exceptional return potential depending on the chosen mix of annual leases and short term rental strategies. With a deep tenant pool driven by Northern Illinois University, Northwestern Medicine Kishwaukee Hospital, Meta's DeKalb Data Center, 3M, Ferrara Candy and a growing logistics and manufacturing corridor, this property sits in a location where demand is both diverse and resilient. The building features maintenance free vinyl siding, tenant paid utilities, and coin operated laundry, keeping operating expenses low and predictable. Four of the six units have been recently updated with modern flooring, fresh paint, and new kitchens and bathrooms-allowing immediate rent optimization. Key value add components remain in the unfinished studio unit as well as simple rent increases in remaining units offering the next owner the chance to add additional income quickly. The current owner, a contractor, is open to negotiations to build out the remaining unit, giving buyers flexibility to tailor the space for long term, midterm, or short term rental use. DeKalb has a proven short-term rental market, supported by visiting faculty, traveling nurses, contractors, and event driven tourism. Recent leases demonstrate strong occupancy and premium short term rental rates, making this property ideal for investors seeking hybrid income strategies. This is a turnkey, cash flowing asset with clear upside-perfect for investors looking to expand in a stable, high demand Midwest market.
Location
State IL
County Dekalb
Area De Kalb
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Wood
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Listed by Robert Jaeger of eXp Realty