Investor’s Opportunity – Updated Tri-Plex with Major Renovations Complete!
This tri-plex investment property offers an incredible opportunity for income generation with three distinct units — a spacious 3-bedroom, 2-bathroom unit, a 2-bedroom, 1-bathroom unit, and a 1-bedroom, 1-bathroom unit. Each unit includes convenient washer and dryer hookups, appealing to long-term tenants and owner-occupants alike.
One unit is fully finished, while the remaining two are under construction, allowing you to complete them to your own specifications and increase rental income potential. The heavy lifting has already been done — this property features a new roof, new windows, new heating and air systems, updated electrical, and new plumbing throughout.
Perfect for investors looking for a project with strong upside potential, this property combines modern updates, multiple income streams, and tremendous long-term value.
This tri-plex investment property offers an incredible opportunity for income generation with three distinct units — a spacious 3-bedroom, 2-bathroom unit, a 2-bedroom, 1-bathroom unit, and a 1-bedroom, 1-bathroom unit. Each unit includes convenient washer and dryer hookups, appealing to long-term tenants and owner-occupants alike.
One unit is fully finished, while the remaining two are under construction, allowing you to complete them to your own specifications and increase rental income potential. The heavy lifting has already been done — this property features a new roof, new windows, new heating and air systems, updated electrical, and new plumbing throughout.
Perfect for investors looking for a project with strong upside potential, this property combines modern updates, multiple income streams, and tremendous long-term value.
Property Details
Price:
$85,000
MLS #:
6255823
Status:
Pending
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Triplex
Listed Date:
Oct 26, 2025
Lot Size:
10,454 sqft / 0.24 acres (approx)
Year Built:
1891
See this Listing
Schools
School District:
Mattoon Dist. 2
Interior
Appliances
Gas Water Heater
Cooling
Ductless
Heating
Ductless, Forced Air, Gas
Levels
Two
Exterior
Roof
Asphalt, Shingle
Stories
2
Financial
Tax Year
2024
Taxes
$2,075
Map
Community
- Address1509 Lafayette Avenue Mattoon IL
- CityMattoon
- CountyColes
- Zip Code61938
Subdivisions in Mattoon
- Annis Sub
- Augusta Lakes
- Broadway Shopping Center
- Buxton Centre
- City/Mattoon
- Country Club Estates
- Curyeas Add
- Egberts Add
- Elm Ridge Add
- Executive Estates
- Hamiltons 3rd Add
- Hunters Glen Ph 01
- Lumpkin Heights
- Mattoon
- Mcfall-Swords Commercial/Resid
- Noyes 3rd Add
- Noyes 4th Add
- Noyes Add
- Noyes Place
- OT of Mattoon
- Park Place Add
- Popular Grove Add
- Richmonds Add
- Riverside Sub #2
- Shady Oaks 1st Add
- Tays Estates
Market Summary
Current real estate data for Single Family in Mattoon as of May 02, 2026
40
Single Family Listed
63
Avg DOM
$203,483
Avg List Price
Property Summary
- 1509 Lafayette Avenue Mattoon IL is a Single Family for sale in Mattoon, IL, 61938. It is listed for $85,000 and features 0 beds, 0 baths, and has approximately 0 square feet of living space, and was originally constructed in 1891. The average listing price for Single Family in Mattoon is $203,483.
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1509 Lafayette Avenue
Mattoon, IL