This property is Off-Market

3400 North Knoxville Avenue
Peoria, IL 61603 ·

48 Units · Multifamily For Sale

N/A

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Carriage Hill Apartments - Price Reduced

Price N/A Cap Rate 8.76%
No. Units 48 Gross Rent Multiplier 5.37
Building Size 39,432 SF Occupancy 90%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1964
Property Use Type Investment Lot Size 2.02 AC
Listing ID: 15619375 Date Created: 03/18/2008 Last Updated: 06/02/2010

Description

*The seller will now consider seller financing or other creative financing options. Contact listing agent for details.*

This investment opportunity is a modern six building apartment complex located on N. Knoxville Ave. in north-central Peoria, IL. Each building contains 8 units for a total of 48 apartments. There are 24 One Bedroom One Bath units and 24 Two Bedroom One Bath units with garage parking for 9 cars and ample lot parking.

The property features updated units and overall has been very well maintained. It has been able to maintain a healthy occupancy in a strong Peoria rental market.

This investment is a turnkey apartment operation in a quality, highly visible location in Peoria.

The Carriage Hill Apartments are well located on highly trafficked North Knoxville Avenue in northcentral Peoria, the most established community in Central Illinois. Located on the banks of the Illinois River, Peoria is at the heart of the Greater Peoria area which has a population of nearly 350,000. Over 300 years ago, the Native Americans and French Traders who called this river valley home referred to the area as Pimiteoui, or "fat lake," because of the richness of the river. Today that tradition continues through riverfront development, a bustling downtown Peoria and much more.

Peoria is located midway between Chicago and St. Louis. Combining "big city assets" with a "smaller town lifestyle", this community has emerged as an attractive, central location. The area is home to Caterpillar which employs nearly 85,000 people worldwide and nearly 18,000 in the Peoria area and Bradley University which has a student population of approximately 20,000. The city is also home to five major hospitals and is the health care center for the region accounting for 25% of area's economy.

Highlights

  • Modern 6 Building Apartment Complex
  • North Peoria Location in Strong Rental Market
  • Ample Lot and Garage Parking
  • Updated Units

Research

3400 North Knoxville Avenue, Peoria, IL 61603 (Peoria County)

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