Located in the heart of Colfax this 7 unit apartment building is an investors dream! Updated roof in 2024 and long time renters! Leases are up at the end of March 2025 and the financials speak for themselves. Do not miss out on this great opportunity and schedule your showing today!
COLFAX - FOR SALE - 10 UNITS - The property is part of the Section 515 program through the U.S. Dept. of Agriculture. The rents are subsidized through this program. All buyers should be knowledgeable and qualified to purchase. Qualified buyers should have working knowledge of these types of government subsidized programs and qualified with the USDA to purchase. Financials available for qualified buyers. This property is being sold as a package with 34 additional units in Gibson City, Illinois. The MLS# for that property is MLS#11617011.
The median home value in Colfax, IL is $110,000. This is lower than the county median home value of $207,300. The national median home value is $338,100. The average price of homes sold in Colfax, IL is $110,000. Approximately 67.1% of Colfax homes are owned, compared to 24.68% rented, while 8.23% are vacant. Colfax real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Colfax real estate agent to arrange a tour today!
Colfax, Illinois has a population of 1,076. Colfax is less family-centric than the surrounding county with 29.46% of the households containing married families with children. The county average for households married with children is 33.65%.
The median household income in Colfax, Illinois is $62,798. The median household income for the surrounding county is $70,339 compared to the national median of $69,021. The median age of people living in Colfax is 34.1 years.
The average high temperature in July is 84.4 degrees, with an average low temperature in January of 16.3 degrees. The average rainfall is approximately 36.8 inches per year, with 16.7 inches of snow per year.