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22-Unit Multi-Family Apartment Complex 818-874 Lincoln Hwy 22 Unit Apartment Building $1,750,000 ($79,545/Unit) 8% Cap Rate Fairview Heights, IL 62208
Investment Highlights
- Prime location on Hwy 50 with strong traffic counts
- 33 off-street parking spaces for tenant convenience
- CAP rate of 8% with stable tenancy and upside potential
- Three buildings with updated roofs and central HVAC
- Renovated in 2009 with well-maintained interiors
- Excellent connectivity to I-64 and Metro-East retail corridor
Executive Summary
3 Building Apartment Complex Available for sale. (22) 1 Bed/1 Bath Units in excellent condition, each unit is very well maintained.
Property Facts
| Price | $1,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $79,545 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.79 AC |
| Cap Rate | 8% | Building Size | 13,200 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1980/2009 |
| Property Subtype | Apartment | Parking Ratio | 2.5/1,000 SF |
| Zoning | Multi-Family | ||
| Price | $1,750,000 |
| Price Per Unit | $79,545 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.79 AC |
| Building Size | 13,200 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2009 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Kitchen
Site Amenities
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 600 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 03-27.0-405-043 | Improvements Assessment | $306,542 |
| Land Assessment | $59,238 | Total Assessment | $365,780 |
Property Taxes
Parcel Number
03-27.0-405-043
Land Assessment
$59,238
Improvements Assessment
$306,542
Total Assessment
$365,780
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22-Unit Multi-Family Apartment Complex | 818-874 Lincoln Hwy
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