1131 Erie St, Racine, IL

Multi-family for Sale - $895,000


Agent Info

Paul Proano
Coldwell Banker Realty

Property Info

CIMLS#1174413
Location
  1131 Erie St
  Racine IL 53402
UpdatedApril 23rd, 2025
TypeMulti-family
Price$895,000

Property Description

Exceptional opportunity to acquire a fully renovated, cash-flowing 7-unit multi-family property, spanning two buildings on a single parcel in the vibrant Downtown Racine area. This stabilized asset has undergone a top-to-bottom renovation, making it a truly turnkey investment with minimal future capital requirements. The unit mix includes four (4) 2-bedroom, 1-bath units and three (3) 1-bedroom, 1-bath units—ideal for attracting long-term tenants and maximizing rental income.

Exterior upgrades include new porches, windows, roofs, gutters, and brand-new siding on both buildings. All major mechanical systems have been updated. Each unit has been fully gut-rehabbed and features luxury vinyl plank flooring, LG stainless steel appliances, modern lighting, and stylish finishes—delivering a contemporary, low-maintenance living experience.

Additional amenities include a full basement with spacious tenant storage, offering the potential to generate additional income, as well as an on-site laundry facility. This is an excellent opportunity for both new and seasoned investors to acquire a stable, income-generating asset with updated infrastructure and strong long-term upside.


Financials