218 Carolyn Ln - Apartments FOR SALE


Eureka, IL 61530
$1,175,000 USD
224-401-9152
218 Carolyn Ln, Eureka, IL for Sale
$1,175,000 USD
Apartments - FOR SALE
1/5
null | 8.01% Cap Rate

218 Carolyn Ln
Eureka, IL 61530


HIGHLIGHTS

  • Garages
  • 8.02% Cap Rate
  • Updated Units
  • Newer Cap Ex

OVERVIEW

Ideal for investors seeking stable income, reduced near-term capital risk, and long-term upside! Well-maintained 18-unit multifamily property consisting of three brick apartment buildings located at 108-218 Carolyn Lane in Eureka, Illinois. The property features an all two-bedroom unit mix and offers stable in-place income supported by documented unit and building improvements. A majority of the units have been remodeled or updated over time, with interior improvements completed between 2017 and 2025, including updated flooring, paint, trim, and interior finishes. Select units include garage parking, providing additional income. Current rents provide immediate cash flow with the opportunity for future rent growth through continued unit upgrades and lease turnover. Located in a supply-constrained Central Illinois market with limited multifamily inventory and consistent rental demand.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$22 USD /SF

# OF UNITS

18

PRICE/UNIT

$65,278

CAP RATE

8.01%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

218 Carolyn Ln, Eureka, IL

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

18

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,179 SF

ZONING

-

APN/PARCEL ID

14-18-101-036

ASK ABOUT THIS PROPERTY

Joey BatlinerListing Leaders NWMore Info
224-401-9152

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Joey BatlinerListing Leaders NWMore Info
224-401-9152

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