2809-2811 Hoover Ave, Springfield, IL 62703

PRICE REDUCED TO $59,500 FOR QUICK SALE — Buyer's agents welcome! TWO Mobile Homes on 0.36 Acres — Unzoned Land with Room for a Third This property includes two separate 2-bed, 1-bath mobile homes on one 0.36-acre lot, and there is space to add another. Because the land is unzoned, a buyer has more flexibility here than on most lots. Ways to use it: • Investor: Rent both homes for two income streams. • Live in one, rent the other: Let the rent help pay the mortgage. • Family setup: Keep relatives close, each with their own home, on the same property. • Expand: Add a third home for more income or more family space. Current occupancy: • 2809: Vacant and ready for a new tenant or owner-occupant. • 2811: Rented month-to-month at $900, so you can keep the tenant or have it vacated. Unit Mix: • 2809: 2 bed / 1 bath • 2811: 2 bed / 1 bath Utilities: Tenants pay electric and gas. Landlord pays water and trash. Recent Improvements: • New subfloor and flooring in 2811 bedroom • New subfloor in 2811 hallway • New subfloor throughout 2809 (except bathroom) • New kitchen cabinet (2809) • New ovens in both homes • New fridge/freezer (2811) • New sections of sewer line toward the road Upside: • Room to add a third mobile home on unzoned land • Rents can be brought up to market Financial Highlights Fully Rented (prior rents: $900 + $750) • Gross income: $19,800/yr • Expenses: $5,832/yr • NOI: $13,968 • Cap rate: 23.5% Current (2811 only at $900) • Gross income: $10,800/yr • Expenses: $4,932/yr (water reduced with one unit vacant) • NOI: $5,868 • Cap rate: 9.9% Annual expenses (fully rented): insurance $2,520, taxes $876, water $1,800, and trash $636.