100 E Market St - Multi-Family FOR SALE


Piper City, IL 60959
$825,000 USD
708-670-2032
100 E Market St, Piper City, IL for Sale
$825,000 USD
Multi-Family - FOR SALE
1/40
null | 6.59% Cap Rate

100 E Market St
Piper City, IL 60959


HIGHLIGHTS

  • Coin-operated laundry for added income
  • Spacious units designed for tenant comfort, supporting consistent occupancy and high desirability.
  • Features newer roof, water heaters, refrigerators, and stoves, ensuring low maintenance costs

OVERVIEW

This meticulously maintained, all-brick 8-unit apartment building offers a compelling investment opportunity in a high-demand rental market. Each spacious two-bedroom unit is designed for tenant comfort and boasts generous living areas, ensuring consistent desirability. The property features a coin-operated laundry facility, providing an additional revenue stream. Currently, the building enjoys full occupancy with no vacancies, reflecting its strong appeal and effective management. The property is in excellent condition, with ongoing maintenance ensuring long-term durability and minimal upkeep costs. A significant value-add opportunity exists for a new investor, as current rents are below market rates. By strategically adjusting rents to align with local market trends, a buyer can increase cash flow and maximize return on investment. This turnkey property is ideal for investors seeking a stable, income-producing asset with immediate upside potential. Property sits on a double lot that could be used to build a similar building upon village approval. Contact us today to schedule a viewing and explore the financials of this exceptional investment opportunity.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$124 USD /SF

# OF UNITS

8

PRICE/UNIT

$103,125

CAP RATE

6.59%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,500 SF

ZONING

-

APN/PARCEL ID

04-04-04-279-001

ASK ABOUT THIS PROPERTY

Jeremy SlowinskiEllsbury Commercial GroupMore Info
708-670-2032

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Jeremy SlowinskiEllsbury Commercial GroupMore Info
708-670-2032

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.