Great opportunity to invest in a low-rise multifamily property footsteps away from the Memorial Hospital campus. Graceland Executive Rentals is an all brick 12-unit property. It is currently operated with a mix of term rentals and fully furnished short-term corporate rentals (STR VRBO AirBNB). Per unit rents range from $1,000 to $2,200 per month. Property totals over 8,800 square feet with separately metered units. Numerous interior and exterior updates have been completed within the last 5 years including new roof and replacement windows. Private off-street parking. Currently self-managed by passive owner. Contact brokers for rent rolls and financial proformas.
Sold for $685,000 on 12/02/25
$685,000
2480 N Graceland Ave, Decatur, IL 62526
--beds
0baths
--sqft
Multi Family
Built in 1974
-- sqft lot
$688,800 Zestimate®
$--/sqft
$1,066 Estimated rent
Home value
$688,800
$613,000 - $771,000
$1,066/mo
Zestimate® history
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Owner options
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What's special
Zillow last checked: 8 hours ago
Listing updated: December 02, 2025 at 11:10am
Listed by:
Zane Peterson 217-422-3335,
Main Place Real Estate
Bought with:
Non Member, #N/A
Central Illinois Board of REALTORS
Source: CIBR,MLS#: 6251587
Originating MLS: Central Illinois Board Of REALTORS
Originating MLS: Central Illinois Board Of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Cooling
- Central Air
Appliances
- Included: Electric Water Heater
Interior area
- Total structure area: 0
- Finished area above ground: 0
Property
Features
- Levels: Three Or More
- Stories: 3
Lot
- Size: 0.30 Acres
Details
- Parcel number: 041203329001
- Zoning: R-6
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Roof: Rubber,Shingle
Condition
- Year built: 1974
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Decatur
- Subdivision: Rosedale Allotment
Price history
| Date | Event | Price |
|---|---|---|
| 12/2/2025 | Sold | $685,000-13.8% |
Source:  CIBR #6251587 | ||
| 10/27/2025 | Pending sale | $795,000 |
Source: CIBR #6251587 | ||
| 10/6/2025 | Contingent | $795,000 |
Source: CIBR #6251587 | ||
| 6/20/2025 | Price change | $795,000-6.5% |
Source: CIBR #6251587 | ||
| 4/18/2025 | Listed for sale | $850,000 |
Source: CIBR #6251587 | ||
Public tax history
Tax history is unavailable.
Neighborhood: 62526
Nearby schools
GreatSchools rating
- 1/10Parsons Accelerated SchoolGrades: K-6Distance: 1.2 mi
- 1/10Stephen Decatur Middle SchoolGrades: 7-8Distance: 1.7 mi
- 2/10Macarthur High SchoolGrades: 9-12Distance: 1.3 mi
Schools provided by the listing agent
- District: Decatur Dist 61
Source: CIBR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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