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224 Grandview Avenue, East Peoria, IL 61611

$129,900

1 bed | 1 full bath | 484 sq ft
MLS# 1265816
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Welcome to a savvy investor's dream — a charming one-bedroom home with an accessory dwelling unit delivering instant income potential from day one.

This delightful setup features a cozy main house with one bedroom, one bathroom, an inviting open front porch, and a versatile enclosed back porch perfect for relaxing year-round or extra storage. A stacked washer and dryer come included, making this home a tenant favorite. The real magic? The detached garage has been cleverly converted into a fully functional studio apartment, complete with one bedroom and one bathroom. Both units are currently occupied with active leases, meaning your cash flow starts immediately. The main residence brings in eight hundred fifty dollars monthly, while the studio generates six hundred forty dollars per month plus a utility fee. That is nearly eighteen thousand dollars in annual rental income waiting for you. Location sweetens the deal with nearby public transit, lovely Fondulac Park West just minutes away, and convenient shopping at the Levee District close at hand. Whether you are looking to add to your portfolio or just beginning your investment journey, this turnkey property would be a great fit!

Property Details

City
East Peoria
County
Tazewell
Subdivision
Highland Park
Schools
  • East Peoria Comm
Type
Residential
Style
Bungalow
Exterior
  • Accessory Dwelling Unit
Garage
  • On Street
  • Gravel
New Construction
No
Zoning
Residential
Bedrooms
1
Full Baths
1
Square Ft.
484
Livable Square Ft.
484
Tot Basement Square Ft.
484
Apx Lot Size
30 x 138
Year Built
1939

Room Levels & Sizes

BsmtLowMainUppAddlTot
Full Baths001001
Half Baths000000
BsmtLowMainUppAddl
Bedroom 111x8
Living Room20x10
Kitchen11x11
Third Floor

Features

Exterior
  • Accessory Dwelling Unit
Roofing
  • Shingle
Garage/Parking
  • On Street
  • Gravel
Basement
  • Full
Heating/Cooling
  • Natural Gas
  • Forced Air
  • Space Heater
  • Window Unit(S)
Water/Sewer
  • Public
  • Public Sewer
Kitchen/Dining
  • Eat-In Kitchen
Appliances
  • Dryer
  • Range
  • Refrigerator
  • Washer
Exterior Amenities
  • Accessory Dwelling Unit
Road/Access
  • Paved

Financials

2024 Taxes
1751.54
RMLS Alliance IDX

Listing information is provided by RMLS Alliance LLC courtesy of RE/MAX Traders Unlimited, Mackenzie Price, as of 04/21/2026 21:15pm exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in renting or leasing. Data is deemed reliable but is not guaranteed accurate by the MLS. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.