12 Unit Court Yard Apartment Complex
Multi-Family
for Sale
| Catylist Listing ID: |
30591682 |
| Property Subtypes: |
Low-Rise/Garden
|
| Number of Units: |
12 Units |
| Building Size (RSF): |
6,462 SF |
| Gross Land Area: |
24,831 SF
|
| Sale Price: |
$580,000 |
| Unit Price: |
$48,333.33 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
12 Unit Court Yard Apartment Complex Rockton IL |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
8.75% |
| Gross Rent Multiplier: |
8.30 |
| Last Updated: |
3/15/2021 |
Overview / Comments
12 Unit Ranch style apartment building with 1 & 2 bedrooms in Rockton a cross the street from River. Great location-great cash flow @$69,600 annual income with room to increase to market rate. New Roof completed in 2013, All of the windows replaced with Jeld-wen windows, 22 exterior doors replaced, cement board siding, lights, soffits fascia & gutters have been updated. Most of the kitchens baths & flooring have also been updated. Expenses $18,835 current net income of $50,765. Cap Rate 8.75
|
Additional Details
| Nearest MSA: |
Rockford |
| County: |
Winnebago |
| Tax ID/APN: |
0324401004 |
| Zoning: |
R! |
| Percent Occupied: |
100% |
| Property Located Between: |
Across the street from River |
| Highway Access: |
I-90 |
| Airports: |
Chicago Rockford International Airport, 2 Airport Cir, Rockford, IL 61109 & Poplar Grorve Air Port |
| Site Description: |
L shaped lot with Plenty of Parking in front and side lots. Lot is high and dry across the street from the River. Nice view. Walk to Downtown and Park. |
| Area Description: |
In the heart of Rockton several blocks to historic downtown Rockton, Illinois. Across the street from the Rock River and Settler's Park, wichis home to year round attractions and regional events, and is only 4 miles from the Illinois Tollway. |
| Total Number of Buildings: |
1 |
| Property Condition: |
Excellent |
| Number of Stories: |
1 |
| Year Built: |
1951 |
| Roof Type: |
Flat |
| Construction/Siding: |
Concrete |
| Exterior Description: |
Exterior has all been updated with complete roof system TPO Roof Membrane, Roof overhang supports around inner and outer perimeter, Soffits and Overhang, Enhanced gutter system, 22 exterior doors, Jeld-wen windows in every unit, Exterior painted, Cement board siding on entire exterior. |
| Parking Type: |
Surface |
| Parking Description: |
24 parking spaces. Parking in front and a 2nd parking lot to the side. |
| Total Parking Spaces: |
24 |
| Heat Type: |
Natural Gas |
| Fuel: |
Gas |
| Air Conditioning: |
Window Unit |
| Interior Description: |
Updated kitchen and baths in most units. Interior painted. 10 - 1 bed room units and 2 - 2 bedroom units. Possible convert some other units to 2 bedroom units. There is an area that could be converted into laundry on facility to generate more income. Rents are low and can be raised to market rent for even a better cash flow and higher cap rate. |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,653 |
23,604 |
65,368 |
| Median Age: |
44.23 |
38.4 |
35.54 |
| Households: |
1,157 |
8,787 |
23,769 |
|
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