21 Unit Multifamily Apartment Complex 9050 W Harristown Rd 21 Unit Apartment Building $1,200,000 ($57,143/Unit) 9.90% Cap Rate Harristown, IL 62537

Harristown Apartments is a 21-unit multifamily property that has demonstrated consistent performance over several years of operation. The unit configuration includes 17 one-bedroom apartments, 3 two-bedroom units, and 1 three-bedroom unit, allowing for diversified tenant appeal and stable occupancy rates. New Flat roof and shingled ownings. Majority of units have new kitchen appliances and flooring. New water mains and controls.
The property generates monthly rental income of $13,700 with operating expenses totaling approximately $3,801 monthly. Key operational features include an on-site laundry facility that produces revenue in excess of its utility costs, a maintenance shop that reduces outsourced repair expenses, and contracted lawn care and snow removal services that maintain property standards year-round.
Monthly operating expenses break down as follows: water ($1,100), insurance ($733), maintenance ($1,050 at $50 per unit), utilities for common areas ($300), garbage service ($200), taxes ($333), and grounds maintenance ($375). The maintenance allocation of $50 per unit monthly has proven adequate for ongoing repairs and upkeep.
Harristown is located in Macon County, Illinois, approximately 10 miles southeast of Decatur. The community provides a rural residential setting that appeals to tenants seeking affordable housing with lower population density while maintaining reasonable commuting distance to employment centers in Decatur.