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$1,320,000
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Property Description
PBV Benefits for Property Owners Guaranteed Rent Payments: Portion of rent is paid directly by the housing authority every month, reducing financial risk. Reduced Vacancy Risk: RHAs maintain a waiting list of eligible tenants. Voucher stays with the house, not tenant. Long-Term Income Security: Current contract has 14 years remaining. extension of a completed 10 year contract. Reputation and Compliance: PBVs are often associated with well-maintained properties. EM held by Gambino Seize the rare chance to acquire a stabilized, income-producing 12-unit multifamily portfolio strategically located across the city. This package features a mix of unit styles and property types, offering both immediate rental income and long-term appreciation potential. Each property is fully leased, with strong rental demand in established neighborhoods. The portfolio are units in the Project-Based Voucher Program, providing guaranteed rental income backed by housing authority contracts-ideal for investors seeking stability and reduced vacancy risk for 15 years. Highlights: 12 Total Units - Sold together as one portfolio package= 8 buildings Strong Occupancy - Fully leased with consistent cash flow Voucher Incentives - Project-Based Vouchers (PBV) in place, ensuring reliable income streams. The buildings have the voucher, versus the tenants. Diverse Locations - Properties situated across multiple high-demand city neighborhoods Upside Potential - Opportunity for rent growth, value-add upgrades, or future repositioning Financials: Detailed rent rolls and expense reports available (see attached docs) Excellent hedge against market volatility with guaranteed government-backed rents This is a rare portfolio acquisition opportunity offering both security and growth. Whether you're a seasoned investor or expanding your holdings, this package delivers a balanced mix of stability, income, and long-term potential. Owned by Infinity Assets, agent owned. Property addresses and PINs are below: 3112 GUILFORD RD Pin: 1219210022 1324 EVELYN ST Pin: 1114327013 4230 OCONNELL ST Pin: 1605326005 1031 EMERSON DR Pin: 1229351014 2023 RIDGE AVE Pin: 1114129004 716 HAWTHORNE AVE Pin: 1230428003 1911 CARNEY AVE Pin: 1114132004 4151 EASTRIDGE DR Pin: 1220377009
Full Property Details
Full Property Details for 1324 Evelyn St
General
- Sold For: $1,320,000
- Taxes: $25,128 (2024)
- Status: Closed
- Type: Multi-Family
- Source: 2606
- MLS ID: 202505358
- Added to Site: 136 day(s) ago
Interior
- Appliances: Dishwasher, Microwave, Refrigerator, Stove/Cooktop
Parking
- Total Spaces: 2
Location
- Area: Winnebago County
- County: Winnebago
- Subdivision: IL
School Information
- School District: Rockford 205
- Elementary School: R K Welsh Elementary
- Middle School: West Middle
- High School: Guilford High
Heating & Cooling
- Cooling Type: Central Air, None
- Heating Type: Forced Air, Hot Water/Steam, Solar
- Water Heater: Gas
Utilities
- Sewer: City
- Water: City
- Sep. Elec Meters: Yes
Structural Information
- Architectural Style: 2 Story
- Exterior Const.: Brick/Stone, Siding
- Basement: Yes
- Basement Desc.: Partial
- Roof: Shingle
- Square Feet: 3,837
- Year Built: 1925
Unit Information
Unit 1
- Square Feet: 1240
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Square Feet: 1237
- Total Bathrooms: 2
- Bedrooms: 2
Lot Features
- Zoning: R-2, R-1 and R-3
Financial Considerations
- Price Per Sq. Ft.: $344.02
- For Sale/Rent/Lease: For Sale
- Expenses: $1,788
- Tax Amount: $25,128
- Tax Year: 2024
Disclosures and Reports
- Legal Description: NORTH END ADDN LOT 004 BLOCK 011
- Flood plain: Yes
Listed by Gambino Realtors
Sold by Gambino Realtors
Get Pre-Approved Today
Schools
Schools serving 1324 Evelyn St
School District:Rockford School District 205
| Name | Grades | Distance |
|---|---|---|
R K Welsh Elementary School 2100 Huffman Boulevard, Rockford, IL 61103 | K-5 | 0.5 mi |
West Middle School, Rockford, IL 1900 North Rockton Avenue, Rockford, IL 61103 | 6-8 | 0.6 mi |
Guilford High School 5620 Spring Creek Rd, Rockford, IL 61114 | 9-12 | 4.2 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1324 Evelyn St
Date
Details
Price
Change
Source
12/09/2025
Sold
$1,320,000
-5.65%
MLS
9/03/2025
Listed
$1,399,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1324 Evelyn Street, Rockford, IL 61103 (MLS# 202505358) is a Multi-Family property that was sold at $1,320,000 on December 09, 2025. Want to learn more about 1324 Evelyn Street? Do you have questions about finding other Multi-Family real estate for sale in Rockford? You can browse all Rockford real estate or contact a Coldwell Banker agent to request more information.

