301-306 Larson Ct - Apartments FOR SALE


Hillsdale, IL 61257
$1,175,000 USD
847-533-0613
301-306 Larson Ct, Hillsdale, IL for Sale
$1,175,000 USD
Apartments - FOR SALE
1/9
null | 7.51% Cap Rate

301-306 Larson Ct
Hillsdale, IL 61257


HIGHLIGHTS

  • Recent Capital Improvements—Including New Metal Roofs and a Resurfaced Parking Lot
  • One-, Two-, and Three-Bedroom Layouts—Some with Private Patios or Decks—Cater to a Broad Tenant Base
  • Spanning 2+ Acres with Scenic Views and a Mix of Unit Types, the Property Appeals to a Wide Renter Base

OVERVIEW

Marcus & Millichap is pleased to present Larson Apartments, a 23-unit multifamily property located at 301 Larson Ct, Hillsdale, IL 61257. Spanning just over two acres, the property consists of five residential buildings offering a mix of one-, two-, and three-bedroom units across both single- and two-story layouts. The asset has benefited from recent capital improvements, including metal roof replacements, a resurfaced blacktop parking lot, and select interior renovations. Several units include private patios or decks, and the property offers an on-site coin-operated laundry facility with four washers and four dryers. The property presents a compelling opportunity for continued value enhancement. A portion of the units have already been renovated, while others provide potential for future upgrades. The current ownership structure has included informal on-site maintenance support from a long-term resident, offering operational flexibility for a new investor. Visual access to a nearby pond adds to the site’s setting and appeal for residents. Located in Hillsdale, IL, within Rock Island County, Larson Apartments is positioned in a quiet, residential community with convenient access to the Quad Cities metropolitan area. The region offers a mix of employment, retail, and recreational amenities, supporting steady demand for rental housing. With meaningful improvements completed and further upside available through continued renovation and leasing strategies, Larson Apartments represents a well-maintained multifamily asset with long-term value potential.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

23

PRICE/UNIT

$51,087

CAP RATE

7.51%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

34

LAND DETAILS

LAND ACRES

2.51 AC

LAND SF

109,336 SF

ZONING

AG1

APN/PARCEL ID

06-28-100-039

ASK ABOUT THIS PROPERTY

Yianni MouflouzelisMarcus & MillichapMore Info
847-533-0613

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Yianni MouflouzelisMarcus & MillichapMore Info
847-533-0613

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.