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AvailableRandolph-Roanoke · PeoriaVacant triplex · full renovation
1216 N North St
Peoria, IL 61606
Before and renovation vision
See the triplex transformation potential.
The concept preserves the existing footprint, rooflines, porch, brick columns, and openings while visualizing a complete exterior restoration.
Peoria three-unit value-add
Three existing units with a clear renovate-and-refinance strategy.
This vacant triplex contains two one-bedroom, one-bath units and one two-bedroom, one-bath unit. The approximately 2,724-square-foot layout supports a full three-unit renovation, rental stabilization, and a BRRRR exit.
Property typeTriplex · 3 units
Unit mix2 × 1/1 · 1 × 2/1
Living area2,724 sq ft
Property taxes$2,433 / year (2025)
Lot size4,986 sq ft
Year built1900
Roof & sidingApprox. 7 years old
OccupancyVacant
Working investment snapshot
Low entry price with three-unit income potential.
Approximately $84 per sq ft
Working full-project range
Purchase plus estimated renovation
Seller-provided stabilized rent range
Before holding, financing, and selling costs
Seller-provided target; operating assumptions apply
Property profile
Reported structure and unit mix
✓ Three existing units✓ Two 1-bed / 1-bath units✓ One 2-bed / 1-bath unit✓ Vinyl siding with brick porch✓ Roof and siding reported about 7 years old✓ Corner location at North Street and Hamilton
The play
Renovate, stabilize, and refinance
- Renovate the two one-bedroom units and the two-bedroom unit
- Lease all three units within the projected market ranges
- Stabilize operations and refinance using a BRRRR strategy
Verified sales
Three recent multifamily sales within 1.2 miles.
Selected stabilized multifamily properties sold between November 6, 2025 and March 9, 2026, including a seven-bedroom triplex with $3,500 in reported monthly rent.
Approximately $84 per sq ft
Three selected multifamily sales
Rounded average of reported ratios
Approximately $22 per sq ft
| Comparable | Sold | Price | Bed / bath | Reported size | Price / sq ft |
|---|---|---|---|---|---|
| 1509–1511 W Main StView on Realtor.com Triplex · 1.10 mi away | Jan. 28, 2026 | $245,000 | 7 bed · 3 bath | 2,216 sq ft | $111 |
| 1213 N University StView on Redfin Multi-family · 0.75 mi away | Nov. 6, 2025 | $225,000 | 5 bed · 3 bath | 2,380 sq ft | $95 |
| 1019 N Farmington RdView on Redfin Duplex · 1.15 mi away | Mar. 9, 2026 | $200,000 | 6 bed · 2 bath | 2,608 sq ft | $77 |
The $230,000 target ARV is approximately $84 per square foot—below the selected sales’ $94 average—and assumes a completed three-unit renovation with stabilized rents. The subject’s 2023 recorded transfer was excluded because public listing information identifies it as part of a multi-property package. This is not an appraisal.
Current condition
Full three-unit renovation
- Vacant three-unit property requiring a full interior renovation
- Scope should cover kitchens, bathrooms, mechanicals, plumbing, electrical, walls, flooring, and finishes across all units
- Boarded openings and worn porch elements are visible in the supplied exterior photos
- Roof and siding are reported to be approximately seven years old
Stabilized rent plan
Potential gross rent above $3,000 per month
Seller-provided targets are $850–$1,000 per month for each one-bedroom unit and $1,250–$1,400 for the two-bedroom unit, producing a projected $2,950–$3,400 monthly gross after renovation.
Property locator
1216 N North St, Peoria
The pin identifies the verified Randolph-Roanoke address near Downtown Peoria, the medical district, and Bradley University.
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Property information
Property facts combine current public records, prior MLS information, seller-provided materials, and AI-assisted reframes of the supplied current-condition photos. Information is deemed reliable but not guaranteed and is subject to change.