509 10th Ave. - Apartments FOR SALE


Cambridge, IL 61238
$2,200,000 USD
815-530-2711
509 10th Ave., Cambridge, IL for Sale
$2,200,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

509 10th Ave.
Cambridge, IL 61238


OVERVIEW

This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 40 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$135 USD /SF

# OF UNITS

40

PRICE/UNIT

$55,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fieldcrest Villages (2 Locations)

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,174 SF

ZONING

mf

APN/PARCEL ID

11-21-476-016,18-07-202-012

ASK ABOUT THIS PROPERTY

Jennifer PhillipsLori Bonarek RealtyMore Info
815-530-2711

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Jennifer PhillipsLori Bonarek RealtyMore Info
815-530-2711

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