909 6Th StSpringfield, IL 62703

For Sale
$550,000

High-yield, 6-unit apartment/office building

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Class A multi-use property, located in the heart of Springfield, IL (909 S 6TH Street, 62703), presents a compelling investment opportunity. The building boasts 3,500 square feet of space, currently configured as six one-bedroom apartments on the second floor and 15 individual offices on the ground floor. The apartments generate monthly rental income ranging from $800 to $1,200, with tenants responsible for utilities and the landlord covering garbage. The ground floor, previously a dental office, is highly adaptable and can be subdivided due to its two separate HVAC systems, offering flexibility for residential or office use. The property features a full basement accessible via two wide staircases, offering significant additional potential. Ample parking is available with 16-33 off-street spaces, supplemented by free roadside parking. The building's prime location between Springfield Clinic and St. John's Hospital ensures high visibility and strong tenant demand. The asking price is $550,000, representing a 9% cap rate with 100% occupancy. The property is offered for sale, lease ($13.00/sqft), or potential partnership opportunities. This is a rare chance to capitalize on Springfield's thriving downtown area.

Highlights

  • $550,000 asking price for a Class A multifamily/commercial property.
  • Six-unit apartment building with 100% occupancy generating a 9% cap rate.
  • 3,500 square feet of commercial space, formerly a dental office, currently configured as 15 individual offices, adaptable for residential or office use.
  • Gross lease structure with multi-tenant occupancy; six one-bedroom apartments (two furnished) and commercial space.
  • Located in central Springfield, IL, near Springfield Clinic and St. John's Hospital, with 16-33 off-street parking spaces.

Property Details for 909 6Th St

Property type
Multifamily properties, Other office properties
Square Feet
3,500 SF
Class
A
Units
6

Location Insight

City
Springfield
County
Sangamon
State
Illinois
Latitude
39.7925087
Longitude
-89.6485967
909 6Th St, Springfield, Illinois

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909 6Th St
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