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$ 615,000
Est. payment | /mo
7 Beds
4 Baths
$ 615,000
Est. payment | /mo
7 Beds
4 Baths
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12509532
Bedrooms 7
Year Built 1964
Annual Tax Amount $11,260
Tax Year 2024
Lot Dimensions 9443
Property Sub-Type Two to Four Units
Property Description
SHOWINGS ON WEDNESDAY (11/05) 12PM-3PM Turnkey 4-Unit Investment Opportunity in Prime Joliet Location! Welcome to 509 Kungs Way - a well-maintained brick 4-unit offering a strong rent roll and updated interiors. The property features three 2-bed/1-bath units and one 1-bed/1-bath unit, with modern finishes and reliable tenants. Current gross income of $71,400 annually, with additional coin laundry income and room for future rent growth. Owner pays gas and water; tenants pay electric. Major capital improvements include a newer roof (2015) and boiler system in solid condition. Ideal for both seasoned investors and first-time buyers looking to start or expand a portfolio. Live in one unit and let the other three pay your mortgage while building long-term equity. Located in a quiet, desirable pocket of Joliet with easy access to I-55, I-80, downtown amenities, and major developments like the Rock Run Collection and new Hollywood Casino project.
Location
State IL
County Will
Area Joliet
Rooms
Basement Other, Partial
Interior
Heating Natural Gas, Baseboard
Fireplace N
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Schools
School District 86 , 86, 204
Others
Ownership Fee Simple
Special Listing Condition List Broker Must Accompany
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Joseph Batliner of Listing Leaders Northwest, Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "