3503 Falling Springs Rd 11 Unit Apartment Building $645,000 ($58,636/Unit) 8.32% Cap Rate Cahokia, IL 62206
INVESTMENT HIGHLIGHTS
- In 2025 the units are now renting for $975 per month.
- Tenants have been screened.
- Located in a quiet area.
EXECUTIVE SUMMARY
2 apartment buildings on same parcel. Front building has 4-units and back building has 7-units. The front building has (1) unit that is a studio and (1) unit that is a 1 Bedrooms. The remaining (9) units are all 2 Bedrooms 1 Bathroom. Asking monthly rent rate of $975 for units rented in 2025.
82% occupancy.
82% occupancy.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $645,000 |
| Price Per Unit | $58,636 |
| Sale Type | Investment |
| Cap Rate | 8.32% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 7,473 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1985/2022 |
| Parking Ratio | 1.87/1,000 SF |
| Zoning | Multi-Family/Dwelling - Residential Apartments |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 1 | - | - |
| 2+1 | 9 | $975.00 | 700 |
1 of 1
PROPERTY TAXES
| Parcel Number | 01-35.0-203-017 | Total Assessment | $55,317 (2023) |
| Land Assessment | $3,206 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $52,111 (2023) | Tax Year | 2024 |
