Investment Opportunity! What was once a beautiful church with its detailed finishes and stunning wooden beams and casings has been partially rehabbed with plans for 14 apartment units. Currently, income is received from two finished units totaling $1440/mo. Two more units are nearly ready to rent with just a few punch list items remaining while the ten other units are in various stages of the remodeling process. Estimated rehab cost is $150,000.00. Estimated after rehab value is $750,000. Potential income from all 14 units is estimated at approximately $10,000 - $12,000/month. Professional pictures coming soon.
Carmi is located in Illinois. Carmi, Illinois has a population of 5,012. Carmi is less family-centric than the surrounding county with 17.41% of the households containing married families with children. The county average for households married with children is 23.64%.
The median household income in Carmi, Illinois is $47,128. The median household income for the surrounding county is $51,351 compared to the national median of $69,021. The median age of people living in Carmi is 44.1 years.
The average high temperature in July is 87.6 degrees, with an average low temperature in January of 23.4 degrees. The average rainfall is approximately 46.4 inches per year, with 11.2 inches of snow per year.