$385,000

23 W Laurel Street, Millstadt, IL 62260

  • 1,896 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1902
  • Property Lot Size Icon0.26acre lot
  • Property Parking Icon 2 car garage
  • Property Price Per Square Feet Icon $203/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

Beautiful Victorian-style home thoughtfully converted into four separate apartments, blending timeless old-world charm with modern updates. Located in the heart of Millstadt and within walking distance to local restaurants and shops, this property offers both strong cash flow and long-term appreciation potential. Income-Producing Details: • Gross Monthly Income: $3,625 • Monthly Expenses: $1,212 • Net Monthly Income: $2,413 • Additional Income Potential: 2-car garage rentable for approx. $100–$150/month • Nearly a 8.0% cap rate exceeding the typical cap rate of 6-7.25% in our area Unit Breakdown: • Three (3) units: 1 bedroom, 1 bath • One (1) unit: 2 bedrooms, 1 bath Property Highlights: • Hardwood or luxury vinyl plank flooring throughout • Updated kitchens with new cabinetry • Updated bathrooms • Separate electric meters for each unit • Refrigerators and electric range/oven included in all apartments • Roof on main house less than 10 years old • New siding (2016) • New roof on garage (2026) This well-maintained property offers immediate income with upside potential through garage rental and future rent adjustments. Strong curb appeal, historic character, and a prime in-town location make this a standout addition to any investment portfolio. A minimum of 24 hour notice required. Preappproval or proof of funds must be provided to listing agent before viewing.

Listing Status:
Active
Date Added:
March 2, 2026
Data Last Updated:
May 21, 2026 at 3:16AM
Listing Office:
Southern Illinois Realty, LLC : 618-792-8088
MLS ID:
26011659
  • General: Ceiling Fan(s)High CeilingsHistoric Millwork
  • Appliances: Free-Standing Electric OvenRefrigerator
  • Flooring: HardwoodLuxury Vinyl
  • A/C: Ceiling Fan(s)Separate MetersWall/Window Unit(s)
  • Heating: Radiant
  • Style: Victorian
  • Other Structures: Garage(s)Wrap AroundCovered
  • Parking: Off Street
  • General: Vinyl SidingTwoStone
  • Originating MLS: maris2
  • School District: Millstadt DIST 160
  • County: St. Clair
  • Zoning: Rendlemans 1st Add Lot/Sec-65 W 25ft Lt 64 & All Lt 65 A0208564912-09.0-423-017
  • Fencing: None
  • Utilities: Cable AvailableSewer ConnectedAmeren
  • Water: Public
  • Source: maris2
  • Ownership: Owner by Contract

This listing courtesy of Southern Illinois Realty, LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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