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3 Beds
2 Baths

$160,000

341 S 5th Avenue, Kankakee IL, 60901

Built in1910
Property typeMulti-family
Listed by Fawad Shahid with Carnelian Realty Group 708-698-1009

Overview

Active

Listed Aug 24, 2026

Updated 16h ago

Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.

$1,064/mo

Est. mortgage payment based on a $160,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
12740729

Interior Features

Bedrooms
3
Bathrooms
2
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.17 Acres

Other Property Details

Taxes
$3,226
Tax Frequency
Annually
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Listed by Fawad Shahid with Carnelian Realty Group 708-698-1009

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Data is refreshed every 3 hours. Listing last updated 5:11 AM UTC on 10/10/2026. 

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