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81 Pine Ave 3 Unit Apartment Building $625,000 ($208,333/Unit) Riverside, IL 60546
Investment Highlights
- 3 Units: (1) 2-bed/1-bath & (2) 3-bed/2-bath
- Long term owner / Rents $450-$550 below market
- 3-car garage (no charge) | Market rent: $100-$150
- Walking distance to Riverside Metra & Downtown Riverside
- 2024 Capital Improvements: Boiler, copper plumbing, windows throughout (not 3rd floor) & garage soffits
- On-site laundry (owned)
Executive Summary
DESIRABLE RIVERSIDE LOCATION NEAR METRA
Ideally situated within walking distance of downtown Riverside and the Metra station, the Property offers residents convenient access to employment centers, schools, retail, and entertainment, including Riverside-Brookfield High School and the Brookfield Zoo
VALUE-ADD MULTIFAMILY
Owned by the same family for over 30 years, current rents are approximately 35% below market, providing new ownership a compelling opportunity to increase revenue by bringing rents to market and introducing paid parking for the three garage spaces
ATTRACTIVE UNIT MIXWITH GARAGE PARKING
Featuring large two- and three-bedroom units with a three-car garage, this property combines strong renter appeal with attractive investment fundamentals in downtown Riverside.
STRONG SURROUNDINGDEMOGRAPHICS
Within a one-mile radius, the area boasts an average household income of $117,137 and a median home value exceeding$404,000, with a total population of approximately 13,187residents
Ideally situated within walking distance of downtown Riverside and the Metra station, the Property offers residents convenient access to employment centers, schools, retail, and entertainment, including Riverside-Brookfield High School and the Brookfield Zoo
VALUE-ADD MULTIFAMILY
Owned by the same family for over 30 years, current rents are approximately 35% below market, providing new ownership a compelling opportunity to increase revenue by bringing rents to market and introducing paid parking for the three garage spaces
ATTRACTIVE UNIT MIXWITH GARAGE PARKING
Featuring large two- and three-bedroom units with a three-car garage, this property combines strong renter appeal with attractive investment fundamentals in downtown Riverside.
STRONG SURROUNDINGDEMOGRAPHICS
Within a one-mile radius, the area boasts an average household income of $117,137 and a median home value exceeding$404,000, with a total population of approximately 13,187residents
Property Facts Under Contract
| Price | $625,000 | Building Class | C |
| Price Per Unit | $208,333 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,858 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 2.33/1,000 SF |
| Price | $625,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,858 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 2.33/1,000 SF |
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Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 15-35-406-013-0000 | Improvements Assessment | $44,791 |
| Land Assessment | $7,329 | Total Assessment | $52,120 |
Property Taxes
Parcel Number
15-35-406-013-0000
Land Assessment
$7,329
Improvements Assessment
$44,791
Total Assessment
$52,120
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