Selling 3 single family rental property homes in STL MSA

[Craig Hansen]

I own 3 single family rental homes in Alton, IL that I've had for around 20 years that I'm ready to sell. All 3 are directly next to each other. I live out of state, and my Dad (who is local did most of the management for them) is now retired and no longer wants to take care of the properties for me. The properties have been good a good investment for me, but it's time to move on. Two of the 3 are on concrete slabs, and one has a crawl space. Two rent for $825 per month (on month-to-month leases at this point but have been tenants for at least 5 years) and a new tenant that's paying $900 per month on a 12-month lease that just moved in a few months ago. I'm looking to get $65,000 per house ($195,000 total), but for an all cash, fast and easy transaction I am willing to offer a discount. There is no deferred maintenance on these properties as the roof's and siding were replaced in 2021, the water heaters in 2018, 2020 and 2023, new refrigerators in 2022 and 2024, and new HVAC in 2020 and 2023. Right now I'm not open to seller financing, as I already plan to invest the equity from these properties into something else, however, if I don't get a viable buyer in the next 3 to 4 weeks then I'll consider selling financing. Please reply with your contact information if you're interested in learning more and I'll follow-up with more details, including the addresses and some photos of the properties. Thanks, Craig