506 South Walnut Street
$182,500
—
3,236
3,236
$56
Description
This four-unit investment property in the heart of Springfield offers strong income potential and a prime location near the medical district, downtown, and state buildings—perfect for attracting renters from these communities. The property consists of one main floor unit, two second-floor units, and a fourth unit on the finished third floor, each featuring 2 bedrooms, 1 bath, and a formal living space. Tenants pay for gas and electric (separately metered), while the landlord covers water and trash....This four-unit investment property in the heart of Springfield offers strong income potential and a prime location near the medical district, downtown, and state buildings—perfect for attracting renters from these communities. The property consists of one main floor unit, two second-floor units, and a fourth unit on the finished third floor, each featuring 2 bedrooms, 1 bath, and a formal living space. Tenants pay for gas and electric (separately metered), while the landlord covers water and trash. The first-floor unit currently rents for $830/month on a month-to-month lease. Two of the three furnaces are new within the last five years, with central air in the first and third floors, and window AC on the second floor. The roof is approximately 7-8 years old. The property includes one parking space in front and additional parking in the back. Whether you’re looking to maximize rental income or live in one unit while renting out the others, this well-maintained property in a desirable area presents a fantastic investment opportunity.
- Listed by Kyle Killebrew • The Real Estate Group, Inc. • Mobl: 217-741-4040
Property Details for 506 South Walnut Street
Parking Total
4.0
Subdivision NameNone
LISTING UPDATED: 09/20/2024 03:01 PM
Property Details for 506 South Walnut Street
Status | Active |
---|---|
MLS # | CA1031314 |
Days on Market | 56 |
Taxes | $2,533 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Residential Income |
Year Built | 1923 |
Lot Size | 0.22 AC / 9,576 SF |
County | Sangamon County |
Building Information for 506 South Walnut Street
Stories-Residences4Year Built1923Building Size-Lot Size0.22 AC / 9,576 SF
Property Information for 506 South Walnut Street
Property History for 506 South Walnut Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 506 South Walnut Street
Taxable ValueLand$13,179Additions$15,468Total$28,647
Tax Record2023$2,533 ($211 / month)
Home Facts
Beds0Lot Size9,796 SqFtStyleSingle Family ResidenceCountySANGAMONAPN14-33.0-251-009
Schools near 506 South Walnut Street
This home is within Springfield School District 186.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 6 to 12 |
Rating | School | Distance |
---|---|---|
Elizabeth Graham Elementary School PublicK to 5 | ||
Benjamin Franklin Middle School Public6 to 8 | ||
Springfield High School Public9 to 12 | ||
Douglas School Public6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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