Morris IL Multi Family for Sale
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 8
- Year built:
- 1870
- Baths:
- 4.00
- MLS#:
- 12260530
View additional info
Courtesy: RE/MAX Top Properties
815-942-1133
ADDITIONAL INFORMATION
*** Multiple Offers Received - Please Submit Your Highest and Best Offer by Saturday, January 4th, at 12:00 PM. This three-story, three-unit property offers a unique opportunity for investors or owner-occupants looking to generate income. Built in 1870, the property has a rich history of being used as apartments and features many original architectural details. Recent updates include a full rehab of the first-floor unit in 2023 following a fire insurance claim, showcasing the potential for transforming the entire building. While the two upper units require some work to bring them up to modern standards, the completed first-level renovation serves as an inspiring blueprint for the rest of the property. The detached two- story garage/stable house adds additional value and utility to this versatile property. With the right updates, this property could become a significant revenue generator, offering strong cash flow potential in a classic setting. Don't miss out on the chance to own a piece of history and create a future income stream. Schedule your showing today!
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 4
- Year built:
- 1920
- Baths:
- 2.00
- MLS#:
- 12140722
View additional info
Courtesy: Tiered Real Estate
815-521-9102
ADDITIONAL INFORMATION
2-Unit Just Blocks From Downtown Morris. Both Units Have 2 Bedrooms And 1 Bathroom. There Is Also A Basement And A 2-Car Garage. Both Tenants Are LONG-Term And Would Like To Stay. Owners Are Letting This One Go Because They Are Relocating. As-Is. Don't Miss Out On This Outstanding Investment Opportunity! BUYERS: Morris rents for these units could be anywhere from $1200-$1600 at current rates. That would value the property at $240,000-$320,000. YES the lower unit needs work. If you are doing the work yourself, it might only be $10k giving a buyer significant equity even at full list price. This is an outstanding opportunity.
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Morris Real Estate
The median home value in Morris, IL is $290,000. This is higher than the county median home value of $257,300. The national median home value is $338,100. The average price of homes sold in Morris, IL is $290,000. Approximately 53.44% of Morris homes are owned, compared to 43.53% rented, while 3.03% are vacant. Morris 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 Morris real estate agent to arrange a tour today!
Morris, Illinois has a population of 14,601. Morris is less family-centric than the surrounding county with 29.97% of the households containing married families with children. The county average for households married with children is 37%.
The median household income in Morris, Illinois is $65,911. The median household income for the surrounding county is $81,764 compared to the national median of $69,021. The median age of people living in Morris is 37.8 years.
Morris Weather
The average high temperature in July is 84.5 degrees, with an average low temperature in January of 15.3 degrees. The average rainfall is approximately 37.6 inches per year, with 22.4 inches of snow per year.