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509 Kungs Way 4 Unit Apartment Building $615,000 ($153,750/Unit) Joliet, IL 60435
Investment Highlights
- Brick four-unit investment with a manicured lawn and multiple windows.
- Exterior photos showcase brick facade and well-kept landscaping.
- Parking for four; coin laundry income adds to rent roll.
- Three 2-bed/1-bath units and one 1-bed/1-bath with modern finishes.
- Kitchen features white cabinets, stainless steel appliances, and wooden floors.
Executive Summary
Turnkey 4-Unit Investment Opportunity in Prime Joliet Location! Welcome to 509 Kungs Way - a well-maintained brick 4-unit offering a strong rent roll and updated interiors. The property features three 2-bed/1-bath units and one 1-bed/1-bath unit, with modern finishes and reliable tenants. Current gross income of $71,400 annually, with additional coin laundry income and room for future rent growth. Owner responsible for gas and water; tenants responsible for electric. Major capital improvements include a newer roof (2015) and boiler system in solid condition. Ideal for both seasoned investors and first-time buyers looking to start or expand a portfolio. Live in one unit and let the other three pay your mortgage while building long-term equity. Located in a quiet, desirable pocket of Joliet with easy access to I-55, I-80, downtown amenities, and major developments like the Rock Run Collection and new Hollywood Casino project.
Property Facts Under Contract
| Price | $615,000 | Building Class | C |
| Price Per Unit | $153,750 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 2,251 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 2.22/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $615,000 |
| Price Per Unit | $153,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,251 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.22/1,000 SF |
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Property Taxes
| Parcel Number | 05-06-12-214-012 | Improvements Assessment | $115,064 |
| Land Assessment | $21,167 | Total Assessment | $136,231 |
Property Taxes
Parcel Number
05-06-12-214-012
Land Assessment
$21,167
Improvements Assessment
$115,064
Total Assessment
$136,231
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Videos
Matterport 3D Exterior
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Photos
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Map
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509 Kungs Way
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