3937-3939 Main St, McHenry
3939 Main St, McHenry, Illinois 60050
$539,000
Property Details
Property Type
Residential
Building Type
Freestanding
Building Size
5,991 sqft
Land Size
9,488 sqft
Units
23
Sewer
City
Water
City
Zoning
C-5
Electric
100 Amp
Year Built
1895
Parking
4 + Street
Property Description
MULTIFAMILY INVESTMENT OPPORTUNITY
5,991 SF
23 single residence occupancy units in 2 story vintage downtown McHenry building with 20 units leased (87% occupancy).
Units rented week to week or month to month. Laundry room. Separate 400 sf leasing/management office could be converted to apartment, store or office and further monetized. Close to commuter train and downtown restaurants.
Potential for redevelopment or creative re-use. City in process of establishing TIF district and plans area capital improvements. Priced below local Assessor valuation. Management in place. Ask for rent roll and operating statement. 12.6% actual cap rate.
This is an older Class C SRO building that needs work and is priced accordingly. Being sold "as-is"