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744 Washington Ave
Alton, IL 62002
Cherry Hill · Multifamily Property For Sale
·
25 Units
Investment Highlights
- Historic, mid century building
- Laundry facilities
- On site parking
Executive Summary
***192 total apartments for sale. Must be sold as a package. 4 complexes within one block of each other. 4 address' are 112 Manor Court(64 units), 744 Washington(28 units), 824 Washington(45 units), and 1101 Washington(55 units)***
The Gallery Illinois comprises of four multifamily properties, each offering a mix of unit sizes and layouts ranging from studios to three-bedroom apartments which cater to a broad tenant base. This diversity enhances occupancy rates and income stability. Occupancy across the portfolio is historically 97%. Alton’s growing population and its appeal as a commuter town for St. Louis contribute to a robust rental market, ensuring consistent demand for multifamily housing. The portfolio offers a blend of affordability, growth potential, and stable rental demand.
The Gallery Illinois comprises of four multifamily properties, each offering a mix of unit sizes and layouts ranging from studios to three-bedroom apartments which cater to a broad tenant base. This diversity enhances occupancy rates and income stability. Occupancy across the portfolio is historically 97%. Alton’s growing population and its appeal as a commuter town for St. Louis contribute to a robust rental market, ensuring consistent demand for multifamily housing. The portfolio offers a blend of affordability, growth potential, and stable rental demand.
Property Facts
| Sale Type | Investment | Lot Size | 0.78 AC |
| No. Units | 25 | Building Size | 84,268 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1951 |
| Building Class | B | ||
| Zoning | R4 | ||
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.78 AC |
| Building Size | 84,268 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1951 |
| Zoning | R4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | 360 - 515 |
| 1+1 | 10 | - | 510 |
| 2+1 | 2 | - | 720 |
| 3+2 | 2 | - | 1,064 |
Property Taxes
| Parcel Number | 23-1-07-13-08-201-009 | Improvements Assessment | $335,780 |
| Land Assessment | $14,410 | Total Assessment | $350,190 |
Property Taxes
Parcel Number
23-1-07-13-08-201-009
Land Assessment
$14,410
Improvements Assessment
$335,780
Total Assessment
$350,190
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