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824 E Ridgely Avenue

Springfield, IL 62702
  • $399,900
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: CA1043403
$399,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1993
County:
Area:

School Information

Description

This 4,500 Square Foot, Six unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself, has undergone significant updating, including a new roof and all new siding in 2021. All six units have been renovated. With updates like multiple new HVAC systems and water heaters. the sale also includes an additional parcel to the west, with the potential to rebuild another six-unit structure on the site where a previous building stood. Prospective buyers should explore grant programs that may support this rebuilding opportunity, adding further value to the property. This is an ideal opportunity for investors looking for a property with minimal initial maintenance and significant growth potential. "Professional photography was taken prior to units being occupied"

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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 Ashley Coker Team | The Real Estate Group. Data last updated: 2026-05-20T23:44:53.98.
www.ashleycoker.com/homes/176012447
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824 E Ridgely Avenue Springfield, IL 62702

  • Price: $399,900
  • Status: Active
  • On Site: 19 Days
  • ID#: CA1043403
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1993
Built
Neighborhood:
None
County:
Sangamon
Area:
Springfield
High School:
Springfield District #186
Property Description
This 4,500 Square Foot, Six unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself, has undergone significant updating, including a new roof and all new siding in 2021. All six units have been renovated. With updates like multiple new HVAC systems and water heaters. the sale also includes an additional parcel to the west, with the potential to rebuild another six-unit structure on the site where a previous building stood. Prospective buyers should explore grant programs that may support this rebuilding opportunity, adding further value to the property. This is an ideal opportunity for investors looking for a property with minimal initial maintenance and significant growth potential. "Professional photography was taken prior to units being occupied"
Exterior Features

Construction Materials Wood Siding Parking Features Assigned Parking Total 6 Road Surface Type Paved Roof Shingle

Interior Features

Basement Crawl Space Building Area Total 2752 Cooling Central Air Heating Forced AirNatural Gas Laundry Features None Number Of Central Air Units 6 Number Of Electric Meters 6 Number Of Gas Meters 6 Number Of Heating Units 6 Number Of Ranges 6 Number Of Water Heaters 6 Numberof Refrigerators 6

Property Features

100 Year Plain Unknown Agent Owned No Disclosed Short Sale N Financing Cash OnlyConventional Gross Income 60720 Gross Scheduled Income 60720 Insurance Expense 6525 Lease Term Variable Lot Features Level Lot Size Dimensions 150 x 61 Manager On Site YN No Net Operating Income 32883 New Construction YN No Number Of Water Meters 1 Operating Expense 20678 Repossessed No Structure Type Apartment Building Tax Annual Amount 7159.16 Tax Legal Description Converse Sub Of Nw Pt. Se1/4 W. 60' Lot 2 Tax Year 2025 Tenant Pays Water Trash Expense 1680 Type Residential Income Virtually Stage YN No Water Source Public SewerPublic

Listing provided courtesy of Kyle Killebrew 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 Ashley Coker Team | The Real Estate Group. Data last updated: 2026-05-20T23:44:53.98.
 
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Ashley Coker Team | The Real Estate Group
3701 W. Wabash Ave.
Springfield IL, 62711