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Southern Oaks Apartments 1740 S Fairview Ave 65 Unit Apartment Building $2,350,000 ($36,154/Unit) 7.71% Cap Rate Decatur, IL 62521
INVESTMENT HIGHLIGHTS
- 1.5 miles from Millikin University
EXECUTIVE SUMMARY
Prime Investment Opportunity – 65-Unit Multifamily Property Near Millikin University
Welcome to an exceptional investment opportunity! This 65-unit residential property offers strong income potential, strategically positioned just 1.5 miles from Millikin University. With a current cap rate of 7.71% and a GRM of 6.95, this asset is priced based on existing income figures—reflecting the low 66% occupancy rate, leaving significant upside for the savvy investor.
Some recent renovations, the units provide modern, comfortable living spaces that attract both students and local residents, further enhancing the rental potential.
Value-Add Potential
Increase in Occupancy: With only 66% occupancy, there's a major opportunity to increase revenue and push returns even higher.
Laundry Room Completion: Once finalized, this additional amenity will further enhance tenant satisfaction and generate additional income.
This is more than just an investment—it's a turnkey opportunity with immediate income and long-term appreciation potential. Whether you're an experienced investor or looking to expand your portfolio, this property offers a rare chance to acquire a high-yield asset in a prime location.
Don’t miss out on securing this income-producing multifamily property—schedule a showing today!
Welcome to an exceptional investment opportunity! This 65-unit residential property offers strong income potential, strategically positioned just 1.5 miles from Millikin University. With a current cap rate of 7.71% and a GRM of 6.95, this asset is priced based on existing income figures—reflecting the low 66% occupancy rate, leaving significant upside for the savvy investor.
Some recent renovations, the units provide modern, comfortable living spaces that attract both students and local residents, further enhancing the rental potential.
Value-Add Potential
Increase in Occupancy: With only 66% occupancy, there's a major opportunity to increase revenue and push returns even higher.
Laundry Room Completion: Once finalized, this additional amenity will further enhance tenant satisfaction and generate additional income.
This is more than just an investment—it's a turnkey opportunity with immediate income and long-term appreciation potential. Whether you're an experienced investor or looking to expand your portfolio, this property offers a rare chance to acquire a high-yield asset in a prime location.
Don’t miss out on securing this income-producing multifamily property—schedule a showing today!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$156,022
|
$4.24
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $156,022 |
| Annual Per SF | $4.24 |
PROPERTY FACTS
| Price | $2,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $36,154 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.13 AC |
| Cap Rate | 7.71% | Building Size | 36,810 SF |
| Gross Rent Multiplier | 6.95 | Average Occupancy | 66% |
| No. Units | 65 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price | $2,350,000 |
| Price Per Unit | $36,154 |
| Sale Type | Investment |
| Cap Rate | 7.71% |
| Gross Rent Multiplier | 6.95 |
| No. Units | 65 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.13 AC |
| Building Size | 36,810 SF |
| Average Occupancy | 66% |
| No. Stories | 3 |
| Year Built | 1979 |
| Zoning | Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 61 | - | 600 |
| 2+1 | 4 | - | 1,200 |
1 1
PROPERTY TAXES
| Parcel Number | 08-06-14-128-010 | Improvements Assessment | $147,419 |
| Land Assessment | $10,553 | Total Assessment | $157,972 |
PROPERTY TAXES
Parcel Number
08-06-14-128-010
Land Assessment
$10,553
Improvements Assessment
$147,419
Total Assessment
$157,972
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Southern Oaks Apartments | 1740 S Fairview Ave
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