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1007 Charlotte Dr 4 Unit Apartment Building $325,000 ($81,250/Unit) 6.48% Cap Rate Normal, IL 61761
Investment Highlights
- Convenient access to Illinois State University, Heartland Community College, and Rivian Automotive
- Property is operating smoothly with stable tenancy
- Electric utilities paid by tenants reducing owner expenses
- Fully renovated units providing a turnkey investment opportunity
- Basement coin-operated laundry provides additional income
- Wall sleeve AC units for individual climate control
Executive Summary
An ideal starter investment offering convenient access to Illinois State University, Heartland Community College, and Rivian Automotive. The units have been renovated, and the property is operating smoothly, providing investors with an attractive, turnkey opportunity.
Property Facts
| Price | $325,000 | Property Subtype | Apartment |
| Price Per Unit | $81,250 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.48% | Lot Size | 0.25 AC |
| Gross Rent Multiplier | 7.29 | Building Size | 5,049 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Zoning | R-3A - Multifamily Residence | ||
| Price | $325,000 |
| Price Per Unit | $81,250 |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| Gross Rent Multiplier | 7.29 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 5,049 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | R-3A - Multifamily Residence |
Amenities
Site Amenities
- Laundry Facilities
- Storage Space
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-21-427-007 | Improvements Assessment | $63,783 |
| Land Assessment | $16,823 | Total Assessment | $80,606 |
Property Taxes
Parcel Number
14-21-427-007
Land Assessment
$16,823
Improvements Assessment
$63,783
Total Assessment
$80,606
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1007 Charlotte Dr
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