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519 W Superior St - 519 W Superior 4 Unit Apartment Building Offered at $525,000 at a 7.92% Cap Rate Ottawa, IL 61350
Executive Summary
Turnkey 4-Unit Brick Multifamily | 7.8% Cap Rate | Separately Metered with Premium Rents | Ottawa, IL
Property Overview:
Excellent opportunity to acquire a cash-flowing, fully renovated, four-sided brick quadplex in the high-demand Ottawa submarket. Commanding premium rents of $1,400 per unit ($5,600 total monthly gross), this asset has been completely updated with new durable laminate flooring, modern light and plumbing fixtures, and fresh interior paint.
Designed for low-overhead, hands-off management, the property features dedicated tenant utilities, individual furnaces, and an attractive amenity package that ensures high tenant retention.
Investment Highlights:
Strong Cash Flow: Strong $41,564 Net Operating Income (NOI) trading at a true ~7.85% Cap Rate based on the suggested list price.
Tenant-Paid Utilities: Tenants pay all individual utilities; units feature separate meters and independent individual furnaces. Landlord exposure to utility volatility is zero.
Turnkey Condition: Capital Expenditure (CapEx) has been completely mitigated with brand new interior finishes and low-maintenance brick construction.
Premium Tenant Amenities: Includes highly coveted off-street parking, free common laundry, and designated secure basement storage units.
Stabilized Income: Strong tenant mix featuring 3 stable long-term leases providing immediate cash security, and 1 month-to-month lease offering immediate operational flexibility.
Property Overview:
Excellent opportunity to acquire a cash-flowing, fully renovated, four-sided brick quadplex in the high-demand Ottawa submarket. Commanding premium rents of $1,400 per unit ($5,600 total monthly gross), this asset has been completely updated with new durable laminate flooring, modern light and plumbing fixtures, and fresh interior paint.
Designed for low-overhead, hands-off management, the property features dedicated tenant utilities, individual furnaces, and an attractive amenity package that ensures high tenant retention.
Investment Highlights:
Strong Cash Flow: Strong $41,564 Net Operating Income (NOI) trading at a true ~7.85% Cap Rate based on the suggested list price.
Tenant-Paid Utilities: Tenants pay all individual utilities; units feature separate meters and independent individual furnaces. Landlord exposure to utility volatility is zero.
Turnkey Condition: Capital Expenditure (CapEx) has been completely mitigated with brand new interior finishes and low-maintenance brick construction.
Premium Tenant Amenities: Includes highly coveted off-street parking, free common laundry, and designated secure basement storage units.
Stabilized Income: Strong tenant mix featuring 3 stable long-term leases providing immediate cash security, and 1 month-to-month lease offering immediate operational flexibility.
Property Facts
| Price | $525,000 | Apartment Style | Low-Rise |
| Price Per Unit | $131,250 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 4,080 SF |
| Cap Rate | 7.92% | No. Stories | 2 |
| No. Units | 4 | Year Built | 1973 |
| Property Type | Multifamily |
| Price | $525,000 |
| Price Per Unit | $131,250 |
| Sale Type | Investment |
| Cap Rate | 7.92% |
| No. Units | 4 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.20 AC |
| Building Size | 4,080 SF |
| No. Stories | 2 |
| Year Built | 1973 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,400 | 1,050 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
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519 W Superior St - 519 W Superior