INVESTMENT OPPORTUNITY – 14-UNIT MULTIFAMILY PROPERTY | 13% CAP RATE - Located at 1730 N Water Street in Decatur, IL, this fully renovated 14-unit multifamily property presents an exceptional investment opportunity with a strong 13% cap rate. The three-story building consists of 14 one-bedroom, one-bath apartments, each of which has been completely remodeled and updated with new flooring, fixtures, and appliances. The property also features a new roof, reducing future maintenance concerns and enhancing long-term value. This turnkey investment is fully occupied with fresh tenants, ensuring immediate and steady rental income. The building’s upgrades and strong rental demand make it an ideal opportunity for investors looking for a high-yield, low-maintenance multifamily asset in a growing market. Don't miss your chance to acquire a stabilized property with strong cash flow. Contact us today for more details!
Sold for $625,000 on 08/26/25
$625,000
1730 N Water St, Decatur, IL 62526
--beds
0baths
--sqft
Multi Family
Built in 1979
-- sqft lot
$652,600 Zestimate®
$--/sqft
$960 Estimated rent
Home value
$652,600
$548,000 - $770,000
$960/mo
Zestimate® history
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Owner options
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What's special
Zillow last checked: 8 hours ago
Listing updated: August 26, 2025 at 01:31pm
Listed by:
Cole Babcock 217-450-8500,
Vieweg RE/Better Homes & Gardens Real Estate-Service First
Bought with:
Amanda Good, 471022248
Mtz Realty Services
Source: CIBR,MLS#: 6250739
Originating MLS: Central Illinois Board Of REALTORS
Originating MLS: Central Illinois Board Of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Ductless, Electric, Hot Water
Cooling
- Ductless, Window Unit(s)
Appliances
- Included: Cooktop, Disposal, Gas Water Heater, Oven, Range, Refrigerator, Range Hood
Features
- Basement: Finished,Full
Interior area
- Total structure area: 0
- Finished area above ground: 0
Property
Features
- Levels: Three Or More
- Stories: 3
Lot
- Size: 0.29 Acres
Details
- Parcel number: 041211102005
- Zoning: Other
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick, Vinyl Siding
- Foundation: Basement
- Roof: Shingle
Condition
- Year built: 1979
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Decatur
- Subdivision: Whitchels Add
Price history
| Date | Event | Price |
|---|---|---|
| 8/26/2025 | Sold | $625,000-7.4% |
Source:  CIBR #6250739 Report a problem | ||
| 8/13/2025 | Pending sale | $675,000 |
Source: CIBR #6250739 Report a problem | ||
| 6/14/2025 | Listing removed | $675,000 |
Source: CIBR #6250739 Report a problem | ||
| 4/23/2025 | Price change | $675,000-12.9% |
Source: CIBR #6250739 Report a problem | ||
| 4/2/2025 | Listed for sale | $775,000 |
Source: CIBR #6250739 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 62526
Nearby schools
GreatSchools rating
- 1/10Hope AcademyGrades: K-8Distance: 0.9 mi
- 2/10Macarthur High SchoolGrades: 9-12Distance: 1.4 mi
- 2/10Eisenhower High SchoolGrades: 9-12Distance: 2.4 mi
Schools provided by the listing agent
- District: Decatur Dist 61
Source: CIBR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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