502 Wadsworth St, Collinsville, IL 62234
- $250,000
- 4,334
- SqFt
- Sold Price
- $250,000
- List Price
- $265,000
- Closing Date
- Jun 12, 2026
- Days on Market
- 46
- MLS#
- 26025429
- Status
- CLOSED
- Living Sq. Ft
- 4,334
- Lot Size
- 21,000
- Acres
- 0.48
- Year Built
- 1905
- Subdivision
- Park Place Sub
- Municipality
- Collinsville
- County
- Madison
- Listing Type
- Multifamily
Property Description
Opportunity for Value Added Multifamily Project in Historic "McKinley School" building that was converted to 4 -One Bedroom Apartments. Apartments are large enough to renovate into Two Bedroom units with a potential 5th "partially finished" apartment in the basement (not counted in room count or square footage) that would need Code Compliance and Egress to utilize. 2 Story all brick building with carport, coin-op laundry and additional parking. Owner pays for Water, Sewer and Trash as well as gas for heat (boiler for radiant heaters) and hot water. All four units have central air so the potential to remove the boiler and add furnaces to remove the gas expense for the apartments is worth investigating. Financials are based on Actual 2025 YE numbers and currently 2 units are vacant (may change as listing progresses) and listed for rent starting Monday 4/27/26 for $825. Building to be sold as-is. Call your favorite Realtor to view vacant unit and write offer subject to/contingent on seeing and approving all 4 units within 72 hours of accepted offer.
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Additional Information
- School District
- Collinsville DIST 10
- Elementary School
- COLLINSVILLE DIST 10
- Jr. High School
- COLLINSVILLE DIST 10
- Sr. High School
- Collinsville
- Parking Description
- Carport
- Cooling
- Ceiling Fan(s), Central Air
- Heating
- Natural Gas, Hot Water, Radiant
- Water
- Public
- Selling Terms
- Cash, Conventional
Mortgage Calculator
Listing courtesy of Hartmann Realtors, Inc. Selling Office: Re/Max Alliance.
Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange. Information From Third Parties, Deemed Reliable But Not Verified
