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River Run Apartments 401 River Run Dr 100 Unit Apartment Building For Sale Macomb, IL 61455
INVESTMENT HIGHLIGHTS
- Many in-unit amenities including energy-efficient appliances, private patio or balcony, and updated wood-style flooring
- Large playground
- Close to parks and walking trails
EXECUTIVE SUMMARY
68% of the Property is covered under a Project-Based Section 8 HAP Contract while a portion of the Property has LIHTC restrictions in place through 2041. There are multiple paths to upside potential including rent growth on LIHTC units, voucher tenants, and operational efficiencies.
There is an adjacent lot of vacant land included in the sale, already zoned for multi-family use.
There is an adjacent lot of vacant land included in the sale, already zoned for multi-family use.
FINANCIAL SUMMARY (PRO FORMA - 2025) 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
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 10.00 AC |
| No. Units | 100 | Building Size | 190,350 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1974 |
| Building Class | C | Parking Ratio | 1.03/1,000 SF |
| Zoning | R-4 - Multiple Res. (Low Rise) | ||
| Sale Type | Investment |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 10.00 AC |
| Building Size | 190,350 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1974 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | R-4 - Multiple Res. (Low Rise) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Patio
- Large Bedrooms
SITE AMENITIES
- Laundry Facilities
- Playground
- Property Manager on Site
- Walking/Biking Trails
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 34 | $566.00 | 715 |
| 2+2 | 33 | $806.00 | 890 - 912 |
| 3+2 | 33 | $882.00 | 1,153 |
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PROPERTY TAXES
| Parcel Number | 11-101-450-05 | Total Assessment | $335,026 (2024) |
| Land Assessment | $16,687 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $318,339 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
11-101-450-05
Land Assessment
$16,687 (2024)
Improvements Assessment
$318,339 (2024)
Total Assessment
$335,026 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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River Run Apartments | 401 River Run Dr
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