3045 Bernice Rd - Apartments FOR SALE


Lansing, IL 60438
$2,375,000 USD
630-379-7464
3045 Bernice Rd, Lansing, IL for Sale
$2,375,000 USD
Apartments - FOR SALE
1/21
null | 8% Cap Rate

3045 Bernice Rd
Lansing, IL 60438


HIGHLIGHTS

  • 15 or 18 units rehabbed recently
  • Plenty of parking
  • Large 2-3 bedroom units

OVERVIEW

Tremendous opportunity to acquire 3 rehabbed 6 unit buildings at a package (total of 18 units located at 3045, 3061, and 3069 Bernice) in an awesome apartment community. The current owners have fully renovated 15 of 18 units across these buildings and they can be purchased individually or as a package. Boasting $28,802 of monthly rental income, this is a cash cow! Sellers also did a complete tear off new roof this past year at 3045 Bernice (others were in good shape) along with renovating units to modern standards. Ownership has also installed electric heaters in the units to largely bypass the boilers (still installed but rarely kick on now) to much reduce the expenses. Owner replaced one boiler as well. This complex also has a large parking lot with tons of spaces for tenants. This is an investor's dream given the 9%+ cash on cash at asking and turnkey condition. Owner is open to selling buildings individually.

FOR SALE DETAILS

PRICE

$2,375,000 USD

PRICE/SF

$390 USD /SF

# OF UNITS

18

PRICE/UNIT

$131,944

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bernice Portfolio

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1977

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

r-3

APN/PARCEL ID

30-30-407-010-0000,30-30-407-012-0000,30-30-407-013-0000

ASK ABOUT THIS PROPERTY

Jake FugmaneXp RealtyMore Info
630-379-7464

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Jake FugmaneXp RealtyMore Info
630-379-7464

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