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301-306 Larson Ct
Hillsdale, IL 61257
Multifamily Property For Sale
·
23 Units
INVESTMENT HIGHLIGHTS
- Recent Capital Improvements—Including New Metal Roofs and a Resurfaced Parking Lot
- Spanning 2+ Acres with Scenic Views and a Mix of Unit Types, the Property Appeals to a Wide Renter Base
- One-, Two-, and Three-Bedroom Layouts—Some with Private Patios or Decks—Cater to a Broad Tenant Base
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present Larson Apartments, a 23-unit multifamily property located at 301 Larson Ct, Hillsdale, IL 61257. Spanning just over two acres, the property consists of five residential buildings offering a mix of one-, two-, and three-bedroom units across both single- and two-story layouts. The asset has benefited from recent capital improvements, including metal roof replacements, a resurfaced blacktop parking lot, and select interior renovations. Several units include private patios or decks, and the property offers an on-site coin-operated laundry facility with four washers and four dryers.
The property presents a compelling opportunity for continued value enhancement. A portion of the units have already been renovated, while others provide potential for future upgrades. The current ownership structure has included informal on-site maintenance support from a long-term resident, offering operational flexibility for a new investor. Visual access to a nearby pond adds to the site’s setting and appeal for residents.
Located in Hillsdale, IL, within Rock Island County, Larson Apartments is positioned in a quiet, residential community with convenient access to the Quad Cities metropolitan area. The region offers a mix of employment, retail, and recreational amenities, supporting steady demand for rental housing. With meaningful improvements completed and further upside available through continued renovation and leasing strategies, Larson Apartments represents a well-maintained multifamily asset with long-term value potential.
The property presents a compelling opportunity for continued value enhancement. A portion of the units have already been renovated, while others provide potential for future upgrades. The current ownership structure has included informal on-site maintenance support from a long-term resident, offering operational flexibility for a new investor. Visual access to a nearby pond adds to the site’s setting and appeal for residents.
Located in Hillsdale, IL, within Rock Island County, Larson Apartments is positioned in a quiet, residential community with convenient access to the Quad Cities metropolitan area. The region offers a mix of employment, retail, and recreational amenities, supporting steady demand for rental housing. With meaningful improvements completed and further upside available through continued renovation and leasing strategies, Larson Apartments represents a well-maintained multifamily asset with long-term value potential.
PROPERTY FACTS
| Price Per Unit | $51,087 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.65% | Lot Size | 2.51 AC |
| Gross Rent Multiplier | 5.87 | Building Size | 17,334 SF |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.96/1,000 SF |
| Zoning | AG1 | ||
| Price Per Unit | $51,087 |
| Sale Type | Investment |
| Cap Rate | 8.65% |
| Gross Rent Multiplier | 5.87 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.51 AC |
| Building Size | 17,334 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.96/1,000 SF |
| Zoning | AG1 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 300 |
| 2+1 | 14 | - | 700 |
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