341 5th Avenue, Kankakee, Illinois 60901
$160,000
|
For Sale
|
|
| Status: | Active |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 3 |
| Baths: | 0 |
| Year Built: | 1910 |
| Property Taxes: | $3,226 |
| Days On Market: | 61 |
| Lot Size: | 0,17 |
Description
Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.
Property Specifics
| Multi-unit | |
| — | |
| Traditional | |
| 1910 | |
| 2026 | |
| Unfinished, Full | |
| Vinyl Siding | |
| Asphalt | |
| — | |
| No | |
| 0.17 |
| Kankakee | |
| — | |
| — / — | |
| — | |
| Lake Michigan | |
| Public Sewer | |
| — | |
| Natural Gas | |
| No | |
| 12740729 | |
| 161706214017 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 27 Nov, 2024 | Sold | $95,000 | MRED MLS |
| 21 Oct, 2024 | Under contract | $95,000 | MRED MLS |
| 16 Oct, 2024 | Listed for sale | $95,000 | MRED MLS |
| 24 Nov, 2025 | Sold | $105,000 | MRED MLS |
| 30 Oct, 2025 | Under contract | $115,000 | MRED MLS |
| — | Last price change | $119,000 | MRED MLS |
| 4 Jun, 2025 | Listed for sale | $130,000 | MRED MLS |
| — | Last price change | $165,000 | MRED MLS |
| 24 Aug, 2026 | Listed for sale | $165,000 | MRED MLS |
Room Specifics
Total Bedrooms: 3
Bedrooms Above Ground: 3
Bedrooms Below Ground: 0
Full Bathrooms: 2
Bathroom Amenities: —
Bathroom in Basement: 0
Rooms: —
Other Specifics
| — | |
| Concrete Perimeter,Stone | |
| Owned | |
| — | |
| — | |
| Deck | |
| Balcony | |
| — | |
| 50X150 | |
| — | |
| — | |
| — | |
| — | |
| Not in DB | |
| — | |
| — | |
| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $2,923 |
| 2025 | $3,034 |
| — | $3,226 |
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Listing Provided By
Carnelian Realty Group
