Home Details for 24 S Galena Avenue

Prime Downtown Freeport Investment Opportunity - 14 Residential Units + 1 Commercial Space | 11% Pro Forma Return Located in the heart of historic downtown Freeport, IL, this mixed-use building offers an outstanding opportunity for investors seeking strong, stable cash flow in a revitalizing urban core. The property includes 14 residential units-a mix of efficiencies and 1-bedroom apartments-plus 1 street-level commercial space, providing diverse income streams and long-term value. Property Highlights: Total Units: 15 (14 Residential + 1 Commercial) Location: Centrally located in downtown Freeport - close to dining, retail, and public amenities Unit Mix: A combination of efficiency and 1-bedroom units - high demand among students, professionals, and downtown workers Commercial Space: Ideal for retail, office, or service use - strong foot traffic and visibility Condition: Solid, well-maintained structure with updated systems and appealing curb appeal Pro Forma Return: 11% projected annual return based on current market rents and realistic expense assumptions