506 N Linden St - Apartments FOR SALE


Normal, IL 61761
$929,000 USD
309-340-1000
506 N Linden St, Normal, IL for Sale
$929,000 USD
Apartments - FOR SALE
1/11
null | 7.18% Cap Rate

506 N Linden St
Normal, IL 61761


HIGHLIGHTS

  • Strong student rental market
  • Great brick building with newer roof!
  • 1 and 2 bedroom units that are affordable for students and easily rentable.

OVERVIEW

Well-maintained 8-unit multifamily property in a prime location just minutes from Illinois State University, offering a strong and proven student rental market. The building features a desirable mix of highly rentable 1- and 2-bedroom units with consistent demand and solid cash-flow potential. Significant capital improvements have been completed, including a new roof in 2024 along with numerous interior and exterior upgrades that have positioned rents at nearly double their prior levels. These updates reduce future maintenance concerns while enhancing tenant appeal and long-term value. Ideal for investors seeking a stabilized asset in a high-demand rental corridor with continued upside. Strong location, quality improvements, and reliable tenant base make this a compelling addition to any portfolio. All numbers in this listing are based on rental projections for 2026/27 school year.

FOR SALE DETAILS

PRICE

$929,000 USD

PRICE/SF

$95 USD /SF

# OF UNITS

8

PRICE/UNIT

$116,125

CAP RATE

7.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,797 SF

ZONING

R-1B

APN/PARCEL ID

14-27-113-001

ASK ABOUT THIS PROPERTY

Sean BozarthRE/MAX RisingMore Info
309-340-1000

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Sean BozarthRE/MAX RisingMore Info
309-340-1000

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