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Property view

506 S Walnut Street, 
Springfield, IL 62704

$165,000


Bed


Bath


3,236

Sq Ft


Multi-Family

Sold

Listed by

Kyle Killebrew

Bought with The Real Estate Group, Inc.

The Real Estate Group, Inc.

217-787-7000

MLS#

CA1031314

Source:

IL CAAR

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About This Home

506 S Walnut Street

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.

Home Facts

Multi-Family

Built in 1923

Price Summary

182,500

$56 per Sq. Ft.

MLS #:

CA1031314


Rooms & Interior

Interior

Living Area:

3,236 Sq. Ft.


Structure

Structure

Building Area:

3,236 Sq. Ft.

Year Built:

1923


Finances & Disclosures

Finances

Price:

$182,500

Price per Sq. Ft:

$56 per Sq. Ft.

Source:IL CAAR
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