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Keystone Flats Apartments 3 Multifamily Properties Offered at $1,885,000 in Midlothian, IL
Investment Highlights
- 83% - 2 Bedroom Apartments
- 50% Renovated Units
- Well Maintained Buildings
Executive Summary
Real Realty is pleased to represent this portfolio of buildings off Keystone Avenue in Midlothian, IL. The offering consists of 3 nearly identical 6-unit buildings. All buildings consists of 1 - one-bedroom and 5 - two-bedroom units. Each building has a central boiler and central hot water heater. Heat and hot water are paid by landlord. Tenants pay for electricity.
9 of the 18 units have been remodeled and are achieving premiums of $150+ more in rent for 1-bedrooms and $250+ for 2-bedroom units than the non-renovated apartments. This is an opportunity for a investor to purchase these buildings and continue to improve units and increase revenue to further maximize returns
9 of the 18 units have been remodeled and are achieving premiums of $150+ more in rent for 1-bedrooms and $250+ for 2-bedroom units than the non-renovated apartments. This is an opportunity for a investor to purchase these buildings and continue to improve units and increase revenue to further maximize returns
Property Facts
| Price | $1,885,000 | Number of Properties | 3 |
| Price / SF | $140.67 / SF | Individually For Sale | 0 |
| Cap Rate | 7.46% | Total Building Size | 13,400 SF |
| Sale Type | Investment | Total Land Area | 0.42 AC |
| Status | Active |
| Price | $1,885,000 |
| Price / SF | $140.67 / SF |
| Cap Rate | 7.46% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 13,400 SF |
| Total Land Area | 0.42 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 14619 Keystone Ave, Midlothian, IL 60445 | Multifamily | 4,467 SF | 1963 | - |
| 14643 Keystone Ave, Midlothian, IL 60445 | Multifamily | 4,467 SF | 1963 | - |
| 14618 Keystone Ave, Midlothian, IL 60445 | Multifamily | 4,466 SF | 1963 | - |
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Keystone Flats Apartments
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