8813 Dee Rd - Apartments FOR SALE


Des Plaines, IL 60016
$995,000 USD
773-469-4062
8813 Dee Rd, Des Plaines, IL for Sale
$995,000 USD
Apartments - FOR SALE
1/31
null | Request Cap Rate

8813 Dee Rd
Des Plaines, IL 60016


HIGHLIGHTS

  • Highly Desirable Near North Suburb of Des Plaines
  • Fully Occupied with Significant As-Is Rental Upside: $150-$500/Month/Unit
  • Very Well Maintained and Managed: True Pride of Ownership
  • Recent Capital Improvements: New Tear-Off Roof (2024), Hot Water Heater (2021)
  • Within Minutes of an Array of Retail and Transportation

OVERVIEW

Essex Realty Group, LLC, has been exclusively engaged to market for sale 8813 Dee Road, a 6-unit apartment building located in the near north suburb of Des Plaines. The property consists of three (3) 1Bd/1Ba units and three (3) 2Bd/1Ba units, along with twelve (12) surface parking spaces. The building has been well maintained by current ownership, and recently received a new tear-off roof (2024) and new hot water heater (2021). Additionally, select unit interiors have received upgraded hardwood floors, granite countertops, stainless-steel appliances, and bathrooms. Situated on a large 11,000 SF lot, new ownership will have the opportunity to make further improvements to the green space or increase cash flow through additional parking income. Current rents at the property are significantly below market, providing investors an opportunity to increase rental income by 20-37% ($150-$500/unit/mo.) in 'as-is' condition. For example, the 1-bedroom units are currently rented for an average of $987/mo. whereas market rent for similar units in the area is $1,350/mo. Also, non-remodeled 2-bedroom units in the area are currently rented for $1,750/mo. All 2-bedroom units at 8813 Dee Rd are remodeled and currently rented for an average of $1,370/mo. Located near major transportation routes, retail centers, and suburban amenities, 8813 Dee Road offers tenants convenience and accessibility. Advocate Lutheran General Hospital and Maine East High School are located within a short walking distance, and Golf Mill Shopping Center is within a 5 minute drive.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$202 USD /SF

# OF UNITS

6

PRICE/UNIT

$165,833

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,356 SF

ZONING

R-4

APN/PARCEL ID

09-15-307-088-0000

ASK ABOUT THIS PROPERTY

Karla GalvaEssex Realty Group, LLCMore Info
773-469-4062

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Karla GalvaEssex Realty Group, LLCMore Info
773-469-4062

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