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26383198
26383199

3 Locations

JC
IL IL - 475.147791
Real Realty Inc.
CG
IL 475.212280
Real Realty Inc.
Listed by Real Realty Inc.
$1,885,000
293 days on market
Updated 108 days ago

Keystone Flats Apartments

Details
APN 28-10-228-013-0000, 28-10-229-004-0000, 28-10-229-009-0000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,400
Net Rentable (SqFt) 13,400
Units 18
Cap Rate 7.46%
NOI $140,682
Year Built 1970
Buildings 3
Stories 2
Zoning RT-4

Multifamily | 18 Units | $104,722/unit

Marketing description

Real Realty is pleased to represent this portfolio of buildings off Keystone Avenue in Midlothian, IL. The offering consists of 3 nearly identical 6-unit buildings. All buildings consists of 1 - one-bedroom and 5 - two-bedroom units. Each building has a central boiler and central hot water heater. Heat and hot water are paid by landlord. Tenants pay for electricity.

9 of the 18 units have been remodeled and are achieving premiums of $150+ more in rent for 1-bedrooms and $250+ for 2-bedroom units than the non-renovated apartments. This is an opportunity for a investor to purchase these buildings and continue to improve units and increase revenue to further maximize returns

Investment highlights

83% - 2 Bedroom Apartments

Well Maintained Buildings

50% Renovated Units

Listing Contacts

JC
IL IL - 475.147791
Real Realty Inc.
CG
IL 475.212280
Real Realty Inc.
Listed by Real Realty Inc.

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$140,682.00
$11,723.50/mo

Valuation Metrics

0
DSCR
7.46%
Cap Rate
7.46%
ROI

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Additional Information

Name
James Clough
License
IL - 475.147791
Brokerage
Real Realty, Inc.
Title
Managing Director
Name
Cristian Gavriluti
License
475.212280
Brokerage
Real Realty
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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