Homes for sale - 1119 N Underhill ST, Peoria, IL 61606

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Sandra Anchor

sandra@sandraanchor.com +1(630) 697-1774

$ 1,600,000

Est. payment | -/mo

19,500 SqFt

Save

$ 1,600,000

Est. payment | -/mo

Save

19,500 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Pending

Purchase Type For Sale

Square Footage 19,500 sqft

Price per Sqft $82

MLS Listing ID 12500893

Maintenance Fees $15,000

Year Built 1910

Annual Tax Amount $18,559

Tax Year 2024

Lot Size 0.420 Acres

Lot Dimensions 120x150

Property Sub-Type Multi Family 5+

Property Description

Introducing Underhill Apartments, a 20-unit multifamily investment opportunity located in the heart of Peoria's growing rental market. This stabilized, income-producing property is performing well with strong in-place cash flow and immediate upside potential through renovation and rent growth. Twelve of the twenty units have been fully renovated with modern finishes, updated flooring, kitchens, and bathrooms, commanding premium rents and attracting reliable tenants. Eight remaining units offer a clear path to increased returns for investors seeking value-add potential. Current rents already demonstrate strong performance, and once all units are upgraded, projected income can rise significantly with minimal additional capital. Recent improvements include major mechanical and structural updates-new roofs, updated plumbing, electrical improvements, and boiler upgrades-reducing future maintenance expenses and ensuring long-term operational stability. The property features a solid tenant base supportive housing program residents, contributing to consistent occupancy and predictable revenue. Located near schools, transit, and employment centers, Underhill Apartments offers both immediate cash flow and long-term appreciation potential in one of Central Illinois' most affordable multifamily markets. This is an exceptional opportunity for investors.

Location

State IL

County Peoria

Area Peoria

Zoning MULTI

Rooms

Basement Finished, Exterior Entry, Block, 8 ft + pour, Storage Space

Interior

Fireplace N

Exterior

Utilities Available Water Available, Cable Available

Roof Type Membrane

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Others

HOA Fee Include Heat,Parking,Lawn Care,Scavenger,Snow Removal,Other

Listed by Jonathan Minerick of Homecoin.com

GET MORE INFORMATION

Sandra Anchor

REALTOR® | Broker | SRES® | ABR® | CSC® | SFR® | RENE | C2EX | Lic# 475159409

sandra@sandraanchor.com

+1(630) 697-1774

540 E Terra Cotta Ave, Suite F, Crystal Lake, IL, 60012

1119 N Underhill ST Peoria, IL 61606

Sandra Anchor

Key Details

Location

Rooms

Interior

Exterior

Building

Others

1119 N Underhill ST