517 8TH ST new Save Request In-Person Tour Request Virtual Tour
Rockford,IL 61104
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12440216
Bedrooms 6
Year Built 1900
Annual Tax Amount $2,052
Tax Year 2024
Lot Dimensions 50X50X65X65X
Property Sub-Type Two to Four Units
Property Description
All-Brick Duplex with Significant Income Potential. All-brick duplex offers two spacious 3-bedroom, 1-bath units at 1,322 sq. ft. each. Major systems have been updated, including a new roof in 2013, furnaces replaced in 2023 and 2024, maintenance-free vinyl windows and updated 100-amp electric breakers. The lower unit has been fully remodeled and is move-in ready, featuring new kitchen cabinets and countertops, an updated bathroom with a new mirror, sink, cabinet, toilet, and tiled tub surround, plus fresh paint and new carpeting throughout. This unit should command market rent of at least $900 per month. The upper unit has had a long-term tenant of 11 years and is currently rented at $565/month on a month-to-month basis-well below market rates. With some cosmetic updates, this unit presents a strong opportunity to increase rents to market levels, significantly boosting cash flow. Located just two blocks from Mid-Town and the 7th Street business district, this property offers convenience, stability, and strong investment potential.
Location
State IL
County Winnebago
Area Rockford
Zoning MULTI
Rooms
Basement Unfinished,Full
Interior
Heating Natural Gas
Fireplace N
Exterior
Exterior Feature Balcony
Roof Type Asphalt
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Schools
School District 205 ,205, 205
Others
Ownership Fee Simple
Special Listing Condition None