This Multifamily Property is Off-Market.

450 BELMONT AVENUE
Elgin, IL 60123 ·

23 Units · Multifamily For Sale

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BELMONT PLACE

Price N/A Commission Split 2.5%
No. Units 23 Gross Rent Multiplier 5.30
Building Size 8,216 SF No. Stories 2
Property Type Multifamily Year Built 1976
Property Sub-type Garden/Low-Rise Lot Size 0.67 AC
Property Use Type Investment
Listing ID: 18373551 Date Created: 09/25/2013 Last Updated: 01/10/2014

Description

MOTEL STYLE, 2 STORY APARTMENT BUILDING WITH 23 EFFICIENCY UNITS.
EASY MAINTENANCE ALUMINUM SIDED EXTERIOR WITH ON-SITE PARKING FOR 25 CARS. COMBINATION HOT WATER BASEBOARD HEAT
(11 UNITS) MIXED WITH 12 UNITS FEATURING COMBO A/C AND ELECTRIC HEATERS. SOLID POSITIVE INCOME. COIN OPERATED WASHERS & DRYERS CONTRIBUTE TO INCOME AND STAY WITH BUILDING.

LOCATED WITHIN 1 BLOCK FROM ELGIN COMMUNITY COLLEGE (ECC) IN A VERY STABLE SINGLE FAMILY RESIDENTIAL NEIGHBORHOOD WITH SOME NEIGHBORING APARTMENTS. EASY ACCESS TO RANDALL ROAD AND ONLY 10 MINUTES TO I90 TOLLWAY ACCESS TO ROCKFORD AND CHICAGO.

Highlights

  • Excellent Cash Flow
  • 2013 Occupancy Rate Excellent - No Vacancies
  • Apartments Rent Quickly from Craig's List and Word of Mouth Marketing
  • Walking Distance to Elgin Community College
  • On Site Parking for all Tenants
  • Excellent Location with Good Curb Appeal

Research

450 BELMONT AVENUE, Elgin, IL 60123 (Kane County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Elgin Market Trends - Asking price index trends, sale price trends, asking rent trends

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