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520 E South Grand Avenue

Springfield, IL 62703
  • $725,000
  • STATUS: Active
  • ON SITE: 9 Days
  • ID#: CA1041155
UPDATED: 46 min ago
$725,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1931
County:
Area:

School Information

Description

Listed under appraised value! This well-maintained 3-story historic brick apartment building is an amazing investment opportunity, featuring 12 fully furnished 1-bedroom units. Each apartment comes move-in ready with a complete furniture package including living room and bedroom sets, kitchen essentials, and flat-screen TVs—making it ideal for both long-term tenants and short-term rental opportunities. The property boasts a reliable boiler system providing consistent heat throughout the building, while each unit is equipped with a window A/C for comfort year-round. Newer windows and a roof replacement completed around 2016 ensure long-term durability and energy efficiency. Several apartments received recent upgrades in 2025, including new furnishings, refreshed bathroom vanities, modern cabinetry, updated appliances, and refinished tub/showers. With its combination of historic character, updated features, and turnkey furnished units, this building is a rare investment opportunity offering stable income potential and long-term value. In order to minimize disrupting current tenants, 48 hours notice is required for showings.

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© 2026 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Logan Frazier Homes | The Real Estate Group. Data last updated: 2026-01-14T14:44:48.203.
www.loganfrazierhomes.org/homes/171718606
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520 E South Grand Avenue Springfield, IL 62703

  • Price: $725,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 46 min ago
  • ID#: CA1041155
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1931
Built
Neighborhood:
None
County:
Sangamon
Area:
Springfield
High School:
Springfield District #186
Property Description
Listed under appraised value! This well-maintained 3-story historic brick apartment building is an amazing investment opportunity, featuring 12 fully furnished 1-bedroom units. Each apartment comes move-in ready with a complete furniture package including living room and bedroom sets, kitchen essentials, and flat-screen TVs—making it ideal for both long-term tenants and short-term rental opportunities. The property boasts a reliable boiler system providing consistent heat throughout the building, while each unit is equipped with a window A/C for comfort year-round. Newer windows and a roof replacement completed around 2016 ensure long-term durability and energy efficiency. Several apartments received recent upgrades in 2025, including new furnishings, refreshed bathroom vanities, modern cabinetry, updated appliances, and refinished tub/showers. With its combination of historic character, updated features, and turnkey furnished units, this building is a rare investment opportunity offering stable income potential and long-term value. In order to minimize disrupting current tenants, 48 hours notice is required for showings.
Exterior Features

Construction Materials Brick Parking Features Other Parking Total 12 Roof Other

Interior Features

Basement Full Building Area Total 7692 Heating Hot WaterWall Unit(s) Laundry Features Common Area Number Of Central Air Units 0 Number Of Electric Meters 12 Number Of Gas Meters 12 Number Of Heating Units 1 Number Of Water Heaters 4

Property Features

100 Year Plain No Agent Owned No Disclosed Short Sale N Financing Cash OnlyCommercial Gross Income 144600 Gross Scheduled Income 144000 Insurance Expense 4339 Lease Term One Year or Less Lot Features Level Lot Size Dimensions 54x151 Manager On Site YN No Net Operating Income 107399 New Construction YN No Number Of Water Meters 12 Operating Expense 20539 Repossessed No Structure Type Apartment Building Tax Annual Amount 16662.34 Tax Legal Description W 54'L 1 B 1 E.Isles Sub Lands #1 Tax Year 2024 Trash Expense 2400 Type Residential Income Water Source Public SewerPublic

Listing provided courtesy of Debra Sarsany of The Real Estate Group, Inc.: .
© 2026 RMLS Alliance, LLC. All Rights Reserved.


© 2026 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Logan Frazier Homes | The Real Estate Group. Data last updated: 2026-01-14T14:44:48.203.
 
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Logan Frazier Homes | The Real Estate Group
3701 Wabash Ave
Springfield IL, 62711