3005 Lake Villa Drive
About This Property for Sale
Marketing description
Great investment opportunity in a fantastic location! This well-maintained 6-plex offers strong income potential with upside for future rental growth. The property consists of five 2-bedroom/1-bath units and one 1-bedroom/1-bath unit currently being used as the manager’s unit. Current rents are below market, creating an excellent value-add opportunity for investors.
Tenants pay electricity while the owner pays water. Additional income is generated through coin-operated washers and dryers located at the rear of the property. Each unit includes assigned parking with room for two vehicles.
Major improvements include replacement of all underground plumbing within the past few years. Conveniently located with easy access to the interstate, Veterans Memorial Boulevard, public transportation, restaurants, grocery stores, shopping, and more. Located just 1.5 blocks from Raising Cane's Chicken Fingers and MOOYAH Burgers, Fries & Shakes on Veterans.
Projected Pro Forma Income is approximately $7,700/month including rental income and coin-operated laundry revenue. Flood insurance is approximately $1,689 annually.
Buyer and Buyer’s Agent to verify all information and perform their own due diligence regarding flood zone, insurance, measurements, zoning, and all other property-related matters.
Investment highlights
Excellent 6-plex investment opportunity in a highly desirable and convenient location
Unit mix consists of five 2-bedroom/1-bath units and one 1-bedroom/1-bath unit currently utilized as the manager’s unit
Property is currently under-rented, offering strong upside potential for increased rental income
Projected Pro Forma Income: approximately $7,700/month including rental income and coin-operated laundry revenue
Tenants pay electricity; owner pays water
Coin-operated washers and dryers located at the rear of the property provide additional income stream
Each unit includes assigned parking with space for two vehicles per unit
Major underground plumbing has already been replaced within the past few years
Fantastic accessibility with easy access to the interstate, Veterans Memorial Boulevard, public transportation, restaurants, grocery stores, and retail
Located approximately 1.5 blocks from Raising Cane's Chicken Fingers and MOOYAH Burgers, Fries & Shakes on Veterans
Annual flood insurance premium is approximately $1,689
Strong location with continued rental demand and long-term investment potential
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