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111 E Palatine Rd - Duplex - Value Add 2 Unit Apartment Building Offered at $515,000 at a 9.83% Cap Rate Palatine, IL 60067
INVESTMENT HIGHLIGHTS
- Great First Time Investment Opportuninty!
- Potential Redevelopment Opportunity for Correct Buyer
- .36 Acres
EXECUTIVE SUMMARY
Prime Multi-Family/Residential Rental Property in Palatine, IL
Cap rate & GRM based off proforma year 2 numbers
Welcome to 111 E Palatine Rd, an exceptional commercial property offering unparalleled opportunities for businesses in Palatine, IL. Boasting a range of recent upgrades and a strategic location within walking distance to essential amenities, this property is ready to accommodate a variety of ventures seeking a prime location and modern amenities.
Location:
111 E. Palatine Rd
Palatine, Illinois 60067
Unit Configuration:
Top Floor: 2 bed / 1 bath unit available for $1,450 per month.
Main Level: 3 bed / 1 bath unit offered at $1,875 per month.
Basement: Unfinished basement with bathroom and storage space, offering potential for additional income with the addition of a unit.
Key Features:
Brand New Roof: This property features a brand-new roof, providing enhanced durability and protection against the elements for years to come.
Brand New Plumbing: Enjoy the peace of mind of having brand-new plumbing systems installed throughout the property, ensuring optimal functionality and efficiency.
New Mechanicals: With new mechanical systems in place, including HVAC and electrical, tenants can expect reliable performance and reduced maintenance costs.
Newly Resurfaced Parking Lot: The parking lot has been freshly resurfaced, offering ample space for customers and employees and enhancing the property's curb appeal.
Convenient Location:
Situated in the heart of Palatine, this property enjoys excellent visibility and accessibility. Within walking distance, tenants have access to essential amenities, including:
Jewel grocery store
Train station
Aquatic center
Great School District:
Located within a highly regarded school district, tenants at 111 E Palatine Rd benefit from access to quality education, making it an attractive location for families and employees alike.
Opportunity Awaits:
Whether you're looking to start a new business, expand your operations, or invest in commercial real estate, 111 E Palatine Rd presents an exciting opportunity to establish your presence in a thriving market. With its recent upgrades, strategic location, and potential for additional rental income, this property is primed for success.
Schedule a Viewing:
Don't miss out on this exceptional opportunity to lease or own a premium commercial property in Palatine. Contact us today to schedule a viewing and discover the endless possibilities that await at 111 E Palatine Rd.
630.207.4434-Rocco
414.736.4609-Arthur
630.333.3560-Anthony
Cap rate & GRM based off proforma year 2 numbers
Welcome to 111 E Palatine Rd, an exceptional commercial property offering unparalleled opportunities for businesses in Palatine, IL. Boasting a range of recent upgrades and a strategic location within walking distance to essential amenities, this property is ready to accommodate a variety of ventures seeking a prime location and modern amenities.
Location:
111 E. Palatine Rd
Palatine, Illinois 60067
Unit Configuration:
Top Floor: 2 bed / 1 bath unit available for $1,450 per month.
Main Level: 3 bed / 1 bath unit offered at $1,875 per month.
Basement: Unfinished basement with bathroom and storage space, offering potential for additional income with the addition of a unit.
Key Features:
Brand New Roof: This property features a brand-new roof, providing enhanced durability and protection against the elements for years to come.
Brand New Plumbing: Enjoy the peace of mind of having brand-new plumbing systems installed throughout the property, ensuring optimal functionality and efficiency.
New Mechanicals: With new mechanical systems in place, including HVAC and electrical, tenants can expect reliable performance and reduced maintenance costs.
Newly Resurfaced Parking Lot: The parking lot has been freshly resurfaced, offering ample space for customers and employees and enhancing the property's curb appeal.
Convenient Location:
Situated in the heart of Palatine, this property enjoys excellent visibility and accessibility. Within walking distance, tenants have access to essential amenities, including:
Jewel grocery store
Train station
Aquatic center
Great School District:
Located within a highly regarded school district, tenants at 111 E Palatine Rd benefit from access to quality education, making it an attractive location for families and employees alike.
Opportunity Awaits:
Whether you're looking to start a new business, expand your operations, or invest in commercial real estate, 111 E Palatine Rd presents an exciting opportunity to establish your presence in a thriving market. With its recent upgrades, strategic location, and potential for additional rental income, this property is primed for success.
Schedule a Viewing:
Don't miss out on this exceptional opportunity to lease or own a premium commercial property in Palatine. Contact us today to schedule a viewing and discover the endless possibilities that await at 111 E Palatine Rd.
630.207.4434-Rocco
414.736.4609-Arthur
630.333.3560-Anthony
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$39,600
|
$15.55
|
| Other Income |
$1,200
|
$0.47
|
| Vacancy Loss |
$2,000
|
$0.79
|
| Effective Gross Income |
$38,800
|
$15.24
|
| Taxes |
$10,210
|
$4.01
|
| Operating Expenses |
$1,200
|
$0.47
|
| Total Expenses |
$11,410
|
$4.48
|
| Net Operating Income |
$27,390
|
$10.76
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $39,600 |
| Annual Per SF | $15.55 |
| Other Income | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.47 |
| Vacancy Loss | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.79 |
| Effective Gross Income | |
|---|---|
| Annual | $38,800 |
| Annual Per SF | $15.24 |
| Taxes | |
|---|---|
| Annual | $10,210 |
| Annual Per SF | $4.01 |
| Operating Expenses | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.47 |
| Total Expenses | |
|---|---|
| Annual | $11,410 |
| Annual Per SF | $4.48 |
| Net Operating Income | |
|---|---|
| Annual | $27,390 |
| Annual Per SF | $10.76 |
PROPERTY FACTS
| Price | $515,000 | Property Type | Multifamily |
| Price Per Unit | $257,500 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 2,546 SF |
| Cap Rate | 9.83% | Average Occupancy | 100% |
| Gross Rent Multiplier | 7.15 | No. Stories | 3 |
| No. Units | 2 | Year Built/Renovated | 1918/2018 |
| Zoning | R-2 - Could be redeveloped into Multifamily / Condos | ||
| Price | $515,000 |
| Price Per Unit | $257,500 |
| Sale Type | Investment |
| Cap Rate | 9.83% |
| Gross Rent Multiplier | 7.15 |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.36 AC |
| Building Size | 2,546 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1918/2018 |
| Zoning | R-2 - Could be redeveloped into Multifamily / Condos |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 1 | $1,850 | 1,500 |
| 2+1 | 1 | $1,600 | 850 |
1 1
Walk Score®
Very Walkable (76)
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111 E Palatine Rd - Duplex - Value Add
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