3440-3442 Villa Rdg - Apartments FOR SALE


Peoria, IL 61604
$575,000 USD
309-323-0399
3440-3442 Villa Rdg, Peoria, IL for Sale
$575,000 USD
Apartments - FOR SALE
1/27
null | 9.34% Cap Rate

3440-3442 Villa Rdg
Peoria, IL 61604


OVERVIEW

This fully leased, 8 unit apartment building can generate new owners immediate cash flow, with room for rent increases. Located at the end of a quiet cul de sac, this apartment complex has many updates (including roof) and is consistently fully leased. There are 7 units that are 2 bedroom/1 bathroom and one unit (3442 Villa Ridge) that is a 3 bedroom, 2 bathroom unit. 5 of the 7 units that are 2 bedroom and 1 bathroom have been recently renovated (see video walkthrough). Tenants each pay their own Ameren gas and water meters, as well as $25 per month for water (1 water/sewer meter). There is ample parking as well as a fenced in court area and land that would provide an excellent opportunity for building an additional apartment complex, covered parking, pickleball courts or storage spaces. No showings without an accepted letter of intent to purchase, then a full walkthrough of units will be arranged.

FOR SALE DETAILS

PRICE

$575,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

8

PRICE/UNIT

$71,875

CAP RATE

9.34%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

6

LAND DETAILS

LAND ACRES

3.94 AC

LAND SF

171,626 SF

ZONING

R6

APN/PARCEL ID

13-25-451-011

ASK ABOUT THIS PROPERTY

Justin BallRE/MAX Traders Unlimited CommercialMore Info
309-323-0399

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Justin BallRE/MAX Traders Unlimited CommercialMore Info
309-323-0399

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