Alexander Apartments 2222-2232 Alexander St 6 Unit Apartment Building $295,450 ($49,242/Unit) 10.40% Cap Rate Granite City, IL 62040

Executive SummaryAttention investors and portfolio builders! This exceptionally rare, fully occupied 6-unit apartment community at 2222-2232 Alexander Street offers immediate, elite-level cash flow from Day 1. Unlike the aging housing stock typically found in the market, this property features premium structural integrity and a rock-solid, highly efficient operating expense ratio of just 26.8%. Tenants pay their own electric and heating utilities, completely insulating your bottom line from seasonal energy spikes.Why This Asset Beats the CompetitionElite Structural Integrity: Built with stable wood framing over a full, modern poured concrete foundation. Say goodbye to the settling, shifting, and chronic basement moisture issues common to local brick veneer buildings.Sub-Metered Utilities: High-efficiency operational setup where tenants are directly responsible for their own heat and electricity. Owner expenses are strictly capped and tightly controlled.Immediate 100% Occupancy: Stable, proven rent roll with a healthy, diverse tiering layout ($550, $575, $600, $600, $600, $650) ensuring consistent cash distribution.Built-In Value-Add Play (Instant Equity): The full poured basement features a city-approved, fully permitted bathroom rough-in. The expensive below-slab trenching and heavy main-line ties are already code-compliant. Finish this space into a coin-operated laundry facility and private tenant storage lockers to effortlessly scale your monthly gross yields by an extra $200–$300 with zero additional utility connection hurdles.Fully Insured & Turnkey: The ultra-low $11,500 annual expense profile already includes Madison County property taxes, active hazard coverage, structural flood riders, city water, sewer, trash, and general maintenance allowances.