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.