15% CAP RATE 18 Unit Apartment Complex in Bloomington, Illinois For Sale

Calumet City, Illinois xxxx7
CAP RATE >15%
0BR/0.0BA Multi-Unit (5+) - For Sale at $600,000
Year Built
xxxx
Sq Footage
Unspecified
Bedrooms
0
Bathrooms
0 full
Description
This is an off market 18 unit courtyard apartment building consisting of (14) 2 bed/1 bath units and (4) 1 bed/1 bath units. The seller has owned the property for almost 30 years and his motivation to sell is so he can retire. The building has been very well maintained, the mechanicals are in good shape and up to code, all the units are in good shape with appliances and hardwood floors. There is baseboard heat in the units with a master heating system with individual zoned heat controls in the boiler room. There is an intercom system for the building and a 12 car parking lot in the rear of the property. There are also 2 laundry rooms, one on each side of the building. Rental Comparables- $800 a month for the 1 bedroom units; $950 for the 2 bedroom units. Heat is included in the rent, and tenants pay their own electricity. Half the property is currently rented with strong tenants. The owner is retiring & has decided not to market the property for new tenants. New owner would put in new tenants. We9;ll help you with that. This is perfect for a xxxx Exchange. Buyer Side Commission of 1.5%.
Pontifex Global Real Estate Team C2 Realty Group
PONTIFEXREI@GMAIL.COM
p.832-982-xxxx
m.832-982-xxxx
pontifexrealestate.com
http://p.reiblackbook.com/xxxx1