105 S Elder Ln - Apartments FOR SALE


Decatur, IL 62522
$2,200,000 USD
217-454-8800
105 S Elder Ln, Decatur, IL for Sale
$2,200,000 USD
Apartments - FOR SALE
1/16
null | 5.86% Cap Rate

105 S Elder Ln
Decatur, IL 62522


OVERVIEW

Introducing a prime multifamily investment opportunity in Decatur, Illinois. The property consists of 35 units across four parcels, featuring four freestanding buildings, including a duplex that contains the superintendent unit. Constructed between 1964 and 1967, the buildings are a combination of brick, mortar, and frame construction and are zoned B-2 with multifamily permitted use. The property is located on the far west side of Decatur, near lifestyle amenities including the 180+ acre Fairview Park, nearby bicycle and walking trails, and the campus-town shops and restaurants surrounding Millikin University. Current ownership has completed select capital improvements, with approximately 25 of the 35 units cosmetically updated, demonstrating measurable rental increases and improved operating performance. Majority of units are two bedrooms. With additional units remaining to be renovated, the property offers continued value-add potential for investors seeking stable income with the opportunity to further enhance rents and long-term portfolio performance.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

35

PRICE/UNIT

$62,857

CAP RATE

5.86%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1967

PARKING SPACES

13

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

B-2

APN/PARCEL ID

04-12-17-254-010

ASK ABOUT THIS PROPERTY

Zane PetersonMain Place Real EstateMore Info
217-454-8800

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Zane PetersonMain Place Real EstateMore Info
217-454-8800

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