509 Kungs Way - Apartments FOR SALE


Joliet, IL 60435
$615,000 USD
224-401-9152
509 Kungs Way, Joliet, IL for Sale
$615,000 USD
Apartments - FOR SALE
1/2
null | Request Cap Rate

509 Kungs Way
Joliet, IL 60435


HIGHLIGHTS

  • Brick four-unit investment with a manicured lawn and multiple windows.
  • Three 2-bed/1-bath units and one 1-bed/1-bath with modern finishes.
  • Exterior photos showcase brick facade and well-kept landscaping.
  • Kitchen features white cabinets, stainless steel appliances, and wooden floors.
  • Parking for four; coin laundry income adds to rent roll.

OVERVIEW

Turnkey 4-Unit Investment Opportunity in Prime Joliet Location! Welcome to 509 Kungs Way - a well-maintained brick 4-unit offering a strong rent roll and updated interiors. The property features three 2-bed/1-bath units and one 1-bed/1-bath unit, with modern finishes and reliable tenants. Current gross income of $71,400 annually, with additional coin laundry income and room for future rent growth. Owner responsible for gas and water; tenants responsible for electric. Major capital improvements include a newer roof (2015) and boiler system in solid condition. Ideal for both seasoned investors and first-time buyers looking to start or expand a portfolio. Live in one unit and let the other three pay your mortgage while building long-term equity. Located in a quiet, desirable pocket of Joliet with easy access to I-55, I-80, downtown amenities, and major developments like the Rock Run Collection and new Hollywood Casino project.

FOR SALE DETAILS

PRICE

$615,000 USD

PRICE/SF

$273 USD /SF

# OF UNITS

4

PRICE/UNIT

$153,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,443 SF

ZONING

-

APN/PARCEL ID

05-06-12-214-012

ASK ABOUT THIS PROPERTY

Joey BatlinerAJ Commercial GroupMore Info
224-401-9152

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Joey BatlinerAJ Commercial GroupMore Info
224-401-9152

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