611 E 151st St - Apartments FOR SALE


Phoenix, IL 60426
$945,000 USD
773-551-1268
611 E 151st St, Phoenix, IL for Sale
$945,000 USD
Apartments - FOR SALE
1/10
null | 8.33% Cap Rate

611 E 151st St
Phoenix, IL 60426


HIGHLIGHTS

  • Brick & Flexicore Construction
  • Proforma 10.4 Cap
  • Studio & 1 Bedroom Apartments
  • Proven Add-Value Strategy

OVERVIEW

Real Realty is pleased to present this 16-unit apartment complex located off 151st street in Phoenix, IL. The property is comprised of 16 units, with a mix of 8-studio units and 8 - one-bedroom units. The property is brick and flexicore construction and is heated with 4 newer Peerless hot-water boilers, and sleeve A/C units (tenant provided) cool the apartment in the summer. Recent improvements to the property included newly painted hallways and 9 remodeled apartments. Remodeled apartments are renting for over $150 more than non-renovated apartments. This is an opportunity for an investor to purchase a well-maintained property with upside in continuing to renovate units and achieve above market cash on cash returns, by increasing rents to current market levels being achieved at the property.

FOR SALE DETAILS

PRICE

$945,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

16

PRICE/UNIT

$59,063

CAP RATE

8.33%

% 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

1968

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,654 SF

ZONING

R-4

APN/PARCEL ID

29-16-102-005-0000,29-16-102-006-0000,29-16-102-007-0000,29-16-102-008-0000,29-16-102-009-0000

ASK ABOUT THIS PROPERTY

James CloughReal Realty, Inc.More Info
773-551-1268

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James CloughReal Realty, Inc.More Info
773-551-1268

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