331 W Main Street W Olney, IL $ 389,000
331 W Main Street W
$ 389,000
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331 W Main Street W

Olney, IL, 62450
$ 389,000
Baths0.0

Monthly Estimate*

$ 2,395

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Studio

Multi-Family Home for sale in Olney, IL

for $389,000. This home was built in 1974 on a lot size of 0.91.

Attention Investors, What An Amazing Opportunity! 13 Units Total. 4 one story Duplex's with 8 units, 2 two story apartments with 2 units each, plus one single family 2 bedroom home. Here is your chance to purchase 13, 2- bedroom units, all with a great rental history for one price. Priced at less than $30k per unit or less than $41 per sq ft. Each unit rents for $600 at this time and the property has 100% occupancy. 331 W. Main is 2 two story buildings each with 2, all electric apartments. each apartment is 858 sq ft with 2 bedrooms. The living and dining area are open and spacious and have galley kitchens. Each apartment has electric forced air heat and Central Air. 329 & 403 W. Main each having 2 ground level duplex apartment buildings. Each of the 617 Sq Ft 2 Bedroom apartments has a great layout. Each unit has electric baseboard heat and wall air units. The apartment area has a courtyard, sidewalks, off street parking, & bike rack. To be closer to your unit on street parking is also welcome. The 2- bedroom, 1 bath home on the east side is also included in the sale. The 1182 sq ft home has forced air heat and central air conditioning. The home needs a little TLC but seems to be solid and is rented. The tenant in the home pays their own utilities and each tenant in each all-electric duplex pays for their own electricity. This is an excellent investment opportunity for the landlord wanting to add to their portfolio or the investor just wanting to get started.

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Multi-Family Active

Price

$ 389,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 10,704

Style

Lot Size

0.91

Year Built

1974

Town/City

Olney

County/Region

Richland

MLS | Web ID

100000329

Features
General
Cooling Central Air Electric Wall Unit(s)
Appliances Electric Range Electric Water Heater Refrigerator
Year Built 1974
Electric 100 Amp Service 200+ Amp Service
Tenant Pays Electricity
Stories Count 2
Tax Year 2024
Gross Income 0
County Richland
Net Operating Income 0
Operating Expense 0
Insurance Expense 9603
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 0
Status Active
Directions West Main Street In Olney to 331 329 319 403 W Main
City Olney
Number Of Units Total 13
MLS Area Olney
Lot Size Square Feet 39372
Tax Annual Amount 10704.56
Electric Expense 0
Fuel Expense 0
Trash Expense 7200
Water Sewer Expense 4800
Additional Parcels Y/N Y
Standard Status Active
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Interior
Flooring Carpet Vinyl
Total Fireplaces 0
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Exterior
Total Parking 20
Lot Dimensions 193 204
Lot Size Acres 0.91
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* Excluded Features
List By
Wiley Realty Group

Broker

wileyrealtygroup@outlook.com

Email

Affordability Calculator

$3,287
Per Month
73%
27%
0%
Monthly Principal & Interest
$2,395
Monthly Property Taxes
$892
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/7/2026$389,000 Listed Price

Map


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331 W Main Street W, Olney, IL, 62450 is a Multi-Family Home for sale at $389,000 with a lot size of 0.91. 331 W Main Street W is a studio with 0.0 baths and was built in 1974. The property's zip code is 62450 which is in Olney, IL