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23 W Laurel Street, 
Millstadt, IL 62260

$385,000


Bed


Bath


1,896

Sq Ft


Multi-Family

Active

Listed by

Doug Payne

Southern Illinois Realty, LLC.

Last updated:

March 4, 2026, 04:08 PM

MLS#

26011659

Source:

MO MARIS

About This Home

23 W Laurel Street

Beautiful Victorian-style home thoughtfully converted into four separate apartments, blending timeless old-world charm with modern updates. Located in the heart of Millstadt and within walking distance to local restaurants and shops, this property offers both strong cash flow and long-term appreciation potential. Income-Producing Details: • Gross Monthly Income: $3,625 • Monthly Expenses: $1,212 • Net Monthly Income: $2,413 • Additional Income Potential: 2-car garage rentable for approx. $100–$150/month • Nearly a 8.0% cap rate exceeding the typical cap rate of 6-7.25% in our area Unit Breakdown: • Three (3) units: 1 bedroom, 1 bath • One (1) unit: 2 bedrooms, 1 bath Property Highlights: • Hardwood or luxury vinyl plank flooring throughout • Updated kitchens with new cabinetry • Updated bathrooms • Separate electric meters for each unit • Refrigerators and electric range/oven included in all apartments • Roof on main house less than 10 years old • New siding (2016) • New roof on garage (2026) This well-maintained property offers immediate income with upside potential through garage rental and future rent adjustments. Strong curb appeal, historic character, and a prime in-town location make this a standout addition to any investment portfolio. A minimum of 24 hour notice required. Preappproval or proof of funds must be provided to listing agent before viewing.

Home Facts

Multi-Family

Built in 1902

Price Summary

385,000

$203 per Sq. Ft.

MLS #:

26011659

Last Updated:

March 4, 2026, 04:08 PM


Rooms & Interior

Interior

Living Area:

1,896 Sq. Ft.


Structure

Structure

Architectural Style:

Victorian

Building Area:

1,896 Sq. Ft.

Year Built:

1902


Lot

Lot Size (Sq. Ft):

11,325


Finances & Disclosures

Finances

Price:

$385,000

Price per Sq. Ft:

$203 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.