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Latham Apartments 210 Kiick St 19 Unit Apartment Building $649,900 ($34,205/Unit) 22.89% Cap Rate Latham, IL 62543
INVESTMENT HIGHLIGHTS
- SEPARATE ELECTRIC METERS!!!
- HIGH QUALITY CONSTRUCTION!!!
- AWESOME PROPERTY!!!!
- LOW MAINTENANCE!!!
- BRAND NEW ROOF!!!
- VERY NICE RESIDENTS!!!!
EXECUTIVE SUMMARY
CASH COW!!!
Awesome 19 unit complex. 17 units in the main building and 2 units in the second building. New roof on the main building. All brick, high quality solid construction. Separate electric meters, city water and sewer. Low maintenance expenses. WILL GENERATE AN 21%+ NET RETURN ON INVESTMENT!!! $300K IN VALUE ADD AFTER RAISING RENTS TO MARKET VALUE!!! Do not miss out on this amazing opportunity. 1beds rent for $700 and 2beds rent for $950!!!!!! INSANE RENTAL DEMAND!!!!
Property management and financing is available.
Awesome 19 unit complex. 17 units in the main building and 2 units in the second building. New roof on the main building. All brick, high quality solid construction. Separate electric meters, city water and sewer. Low maintenance expenses. WILL GENERATE AN 21%+ NET RETURN ON INVESTMENT!!! $300K IN VALUE ADD AFTER RAISING RENTS TO MARKET VALUE!!! Do not miss out on this amazing opportunity. 1beds rent for $700 and 2beds rent for $950!!!!!! INSANE RENTAL DEMAND!!!!
Property management and financing is available.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$177,600
|
$12.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$177,600
|
$12.14
|
| Taxes |
$3,600
|
$0.25
|
| Operating Expenses |
$25,233
|
$1.73
|
| Total Expenses |
$28,833
|
$1.97
|
| Net Operating Income |
$148,767
|
$10.17
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $177,600 |
| Annual Per SF | $12.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $177,600 |
| Annual Per SF | $12.14 |
| Taxes | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.25 |
| Operating Expenses | |
|---|---|
| Annual | $25,233 |
| Annual Per SF | $1.73 |
| Total Expenses | |
|---|---|
| Annual | $28,833 |
| Annual Per SF | $1.97 |
| Net Operating Income | |
|---|---|
| Annual | $148,767 |
| Annual Per SF | $10.17 |
PROPERTY FACTS Under Contract
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | $700.00 | - |
| 2+1 | 6 | $850.00 | - |
| 3+2 | 2 | $1,000 | - |
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PROPERTY TAXES
| Parcel Number | 02-036-028-00 | Total Assessment | $48,600 (2024) |
| Land Assessment | $6,720 (2024) | Annual Taxes | $3,600 ($0.25/SF) |
| Improvements Assessment | $41,880 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
02-036-028-00
Land Assessment
$6,720 (2024)
Improvements Assessment
$41,880 (2024)
Total Assessment
$48,600 (2024)
Annual Taxes
$3,600 ($0.25/SF)
Tax Year
2025
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Latham Apartments | 210 Kiick St
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