Toney Court Apartments

25 Tony Cort Lane, Murphysboro, IL

13.07% return

SP: $485,000

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Property Description

TURNKEY INVESTMENT!!!

Awesome property. 12 units, each unit is 2bed/1bath. Units will easily rent for $650+. Solid B Class AREA!!! Very nice tenants. Low crime area, very quiet and clean property. No maintenance issues. Brand new roofs. Fully occupied. 13%+ NET RETURN ON INVESTMENT!!! Separate electric and water meters, tenants pay all utilities.

Professional property management is in place. Do not miss out on this opportunity.

Property Information

Listing statusSold
Property typeMulti Family
Total units12
Total bedrooms24
Total bathrooms12
Building size10800 sq. ft.
Lot size2.0 acres
Year built(unknown)

CountyJackson County
Subdivision
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSeptic
HeatingElectric baseboards
CoolingWall A/C

Property Financial Summary

Sale price$485,000
Estimated rehab¹$0
Total investment$485,000

TypeProforma

Gross income (annually)$97,200
Operating expenses (annually)$33,818
Net income (annually)$63,382
Gross return20.04%

Gross income (monthly)$8,100
Operating expenses (monthly)$2,818
Net income (monthly)$5,282
Net return13.07%

Property Income & ExpensesMonthlyAnnual

Income

Laundry Income$300/month$3,600/year
Building 1
Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$650/month$7,800/year
Unit 3: 2 bed / 1 bath$650/month$7,800/year
Unit 4: 2 bed / 1 bath$650/month$7,800/year
Building 2
Unit 5: 2 bed / 1 bath$650/month$7,800/year
Unit 6: 2 bed / 1 bath$650/month$7,800/year
Unit 7: 2 bed / 1 bath$650/month$7,800/year
Unit 8: 2 bed / 1 bath$650/month$7,800/year
Building 3
Unit 9: 2 bed / 1 bath$650/month$7,800/year
Unit 10: 2 bed / 1 bath$650/month$7,800/year
Unit 11: 2 bed / 1 bath$650/month$7,800/year
Unit 12: 2 bed / 1 bath$650/month$7,800/year
Total$8,100/month$97,200/year

Expenses

Property Taxes$1,175/month$14,098/year
Insurance (estimated)$750/month$9,000/year
Maintenance reserve$833/month$10,000/year
Lawn care$60/month$720/year
Total$2,818/month$33,818/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.