$474,000
Active · 0 days on market · MLS# MFRG5111453
| Living area | 3,921 sq ft |
|---|---|
| Lot size | 0.09 acres |
| Year built | 1941 |
| Property type | Multi-Family 5+ |
| Waterfront | Yes |
| Annual taxes | $6,329 |
| County | Lake |
Positioned in the heart of downtown Umatilla, this versatile mixed-use property presents a strong income-producing opportunity with both residential and commercial components. The second-floor features three well-maintained 1-bedroom, 1-bath apartments, all updated with interior paint and remodeling completed in 2015, offering comfortable living spaces ideal for steady rental income. The ground floor is currently configured as a salon/hair studio, with excellent visibility and storefront presence. The layout provides flexibility to accommodate a single user or be demised into two separate commercial units, each with its own entrance and display windows ideal for retail or service-oriented tenants. Additional value is found at the rear of the property, where a detached garage offers potential for supplemental rental income or on-site storage. Parking is conveniently available both curbside and behind the building. Capital improvements include a roof replacement in 2014, along with new gutters and downspouts, and exterior stucco and paint completed in 2015—reducing near-term maintenance concerns. With its central location, multiple income streams, and adaptable layout, this property represents an excellent opportunity for investors or owner-users seeking a foothold in a growing downtown market.
Listing courtesy of Monica McDonald, EXP REALTY LLC. Presented by MC Homes Realty Inc · 727432218.