Turnkey 7-Unit Multi-Family Investment Opportunity I Fully Renovated

1131 Erie St, Racine, IL 53402

  • For Sale $1,000,000
  • Property Type Multi-Family
  • Units 7
  • Lot Size 0.12 Acre
  • # of Floors 2
  • Year Built 1900
  • Year Renovated 2024
  • Date Updated Apr 16, 2025
Exceptional opportunity to acquire a fully renovated, cash-flowing 7-unit multi-family property, spanning two buildings on a single parcel in the vibrant Downtown Racine area. This stabilized asset has undergone a top-to-bottom renovation, making it a truly turnkey investment with minimal future capital requirements. The unit mix includes four (4) 2-bedroom, 1-bath units and three (3) 1-bedroom, 1-bath units—ideal for attracting long-term tenants and maximizing rental income. Exterior upgrades include new porches, windows, roofs, gutters, and brand-new siding on both buildings. All major mechanical systems have been updated. Each unit has been fully gut-rehabbed and features luxury vinyl plank flooring, LG stainless steel appliances, modern lighting, and stylish finishes—delivering a contemporary, low-maintenance living experience. Additional amenities include a full basement with spacious tenant storage, offering the potential to generate additional income, as well as an on-site laundry facility. This is an excellent opportunity for both new and seasoned investors to acquire a stable, income-generating asset with updated infrastructure and strong long-term upside.
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Attachments

Highlights

  • Age: Over 50 Years Old
  • Exterior Description: Aluminum Siding
  • Exterior Description: Concrete Block
  • Exterior Living Space: Porch
  • Flooring: Luxury Vinyl
  • Heating Type: Radiator
  • Lot Size: Under 1/2 Acre
  • Road Type: City / Town Street
  • Sewer: City
  • Water: Municipal Water

Contacts

broker

Coldwell Banker Realty

Location

Getting Around

  • Walk Score ®

    80/100 Very Walkable
  • Transit Score ®

    48/100 Some Transit
  • Bike Score ®

    69/100 Bikeable
Powered by Walk Score ®
  • City Racine, IL
  • Neighborhood Downtown Racine
  • Zip Code 53402
  • Market Milwaukee

Frequently Asked Questions

How much does Turnkey 7-Unit Multi-Family Investment Opportunity I Fully Renovated cost?

The space currently listed for sale at Turnkey 7-Unit Multi-Family Investment Opportunity I Fully Renovated asks for $1,000,000.

When was this property built?

Turnkey 7-Unit Multi-Family Investment Opportunity I Fully Renovated was built in 1900.

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Contact Listing Broker
broker

Coldwell Banker Realty

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