Multi-Family Investment Opportunity

Multi-Family for Sale
Catylist Listing ID: 30335517
Property Subtypes: Duplex/Fourplex
Number of Units: 16 Units
Building Size (RSF): 33,000 SF
Gross Building Area: See Agent
Sale Price: $2,482,000
Unit Price: $155,125 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/20/2021

Overview / Comments

16-Unit INVESTMENT OPPORTUNITY! Walden Woods is a 52-unit condominium project. Thirty of the units were sold to private owners from 2005 to 2008. The remaining 22 units were committed to a leasing program and have been operated as rental units for over six years. 4 of these units sold in 2018, another in 2019, and another will sell in 2021. The remaining 16 units are being offered in a package as an investment opportunity.

Unit exterior and interior finishes built to high-quality condominium standards. All appliances including washers and dryers are included in the sale. The condominium association is well managed and its capital reserve account fully funded. Great current return on investment with an excellent history of high occupancy at market rent.

Strong employment in the surrounding area. Highly visible location. Main entrance on Harrison Avenue, a major east-west corridor on Rockford’s south side. Broker Interest

Additional Details

Nearest MSA: Rockford
County: Winnebago
Tax ID/APN: 1233456001
Percent Occupied: 95%
Property Located Between: Harrison Ave. & Mulford Rd.
Highway Access: I-39, I-90, Bypass 20
Airports: 8 Miles from the Greater Rockford Airport, 66 Miles from Chicago O'hare
Total Number of Buildings: 16
Property Condition: Excellent
Construction/Siding: Vinyl Siding, Wood Frame
Parking Type: Other
Parking Description: Attached 1 and 2-car garages
Laundry: In Each Unit
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas, Electric
Air Conditioning: Other
Internet Access: Cable

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,818 72,884 152,917
Median Age: 41.94 38.99 38.6
Households: 3,613 29,839 61,736


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