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31090612
31090635

3061 Bernice Rd, Lansing, IL 60438 For Sale

JF
IL IL 475.181407, 475181407
EXP Realty
MS
IL 475188240
Dr William Mustafa, PsyD, CCIM, CIPS
Listed by EXP Realty, Dr William Mustafa, PsyD, CCIM, CIPS
$2,300,000
125 days on market
Updated 32 days ago

Beautifully Renovated Lansing 18 Units (3x 6 units)

Details
Property Type Multifamily
Sub Type Apartment Building
Units 18
Cap Rate 8.26%
NOI $189,975
Occupancy 94.44%
Class C
Year Built 1978
Year Renovated 2025-2026
Buildings 3
Stories 3
Zoning R3
Investment Type Stabilized

Modern updated cash cow!

Marketing description

Tremendous rehabbed 6 unit buildings (3 total located at 3045, 3061, and 3069 Bernice) in an awesome apartment community! The current owners have fully renovated 15 of 18 units across these buildings and they can be purchased individually or as a package. Boasting $28,802 of monthly rental income, this is a cash cow! Sellers also did a complete tear off new roof this past year at 3045 Bernice (others were in good shape) along with renovating units to modern standards. Ownership has also installed electric heaters in the units to largely bypass the boilers (still installed but rarely kick on now) to much reduce the expenses. They replaced one boiler as well. This complex also has a large parking lot with tons of spaces for tenants. This is an investor's dream given the 9%+ cash on cash at asking and turnkey condition.

Investment highlights

9%+ Cash on Cash

8%+ Cap rate

Turnkey

All 2 or 3 bedroom units

Listing Contacts

JF
IL IL 475.181407, 475181407
EXP Realty
MS
IL 475188240
Dr William Mustafa, PsyD, CCIM, CIPS
Listed by EXP Realty, Dr William Mustafa, PsyD, CCIM, CIPS

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$189,975.00
$15,831.25/mo

Valuation Metrics

0
DSCR
8.26%
Cap Rate
8.26%
ROI

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Additional Information

Name
Jake Fugman
License
IL 475.181407
Brokerage
eXp Realty LLC
Brokerage Phone
6303797464
Name
Michael Scanlon
License
475188240
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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