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$ 450,000
Est. payment /mo
Active
522 S State Street Belvidere, IL 61008
4,180 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,180 sqft
Price per Sqft $107
Subdivision Il
MLS Listing ID 202603280
Style 2 Story
Annual Tax Amount $5,732
Tax Year 2024
Property Sub-Type 5+ Units
Property Description
Prime Downtown Belvidere Mixed-Use Investment Opportunity! This turnkey property offers strong, immediate cash flow with an established bar on the main level featuring a full kitchen, 5 gaming machines, and 3 pool tables. Upstairs, you'll find five fully occupied residential lofts, each equipped with a stove, refrigerator, and microwave, and occupied by long-term tenants. The building has been well maintained and features central air conditioning throughout. Located in the heart of Downtown Belvidere and just minutes from the planned Metra station expected in 2027, this property is well positioned for future growth, increased demand, and long-term appreciation. A rare opportunity to acquire a fully occupied, income-producing asset in a rapidly developing area.
Location
State IL
Area Boone County
Interior
Hot Water Gas
Heating Forced Air, Natural Gas
Cooling Central Air
Exterior
Exterior Feature Concrete
Garage Spaces 20.0
Roof Type Metal
Building
Sewer City
Water City
Schools
Elementary Schools Seth Whitman Elem
Middle Schools Belvidere Central Middle
High Schools Belvidere North
School District Belvidere 100
Listed by Keller Williams Realty Signature