9050 W Harristown Rd - Apartments FOR SALE


Harristown, IL 62537
$1,200,000 USD
618-277-4400
9050 W Harristown Rd, Harristown, IL for Sale
$1,200,000 USD
Apartments - FOR SALE
1/12
null | 9.9% Cap Rate

9050 W Harristown Rd
Harristown, IL 62537


OVERVIEW

Harristown Apartments is a 21-unit multifamily property that has demonstrated consistent performance over several years of operation. The unit configuration includes 17 one-bedroom apartments, 3 two-bedroom units, and 1 three-bedroom unit, allowing for diversified tenant appeal and stable occupancy rates. New Flat roof and shingled ownings. Majority of units have new kitchen appliances and flooring. New water mains and controls. The property generates monthly rental income of $13,700 with operating expenses totaling approximately $3,801 monthly. Key operational features include an on-site laundry facility that produces revenue in excess of its utility costs, a maintenance shop that reduces outsourced repair expenses, and contracted lawn care and snow removal services that maintain property standards year-round. Monthly operating expenses break down as follows: water ($1,100), insurance ($733), maintenance ($1,050 at $50 per unit), utilities for common areas ($300), garbage service ($200), taxes ($333), and grounds maintenance ($375). The maintenance allocation of $50 per unit monthly has proven adequate for ongoing repairs and upkeep. Harristown is located in Macon County, Illinois, approximately 10 miles southeast of Decatur. The community provides a rural residential setting that appeals to tenants seeking affordable housing with lower population density while maintaining reasonable commuting distance to employment centers in Decatur.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

21

PRICE/UNIT

$57,143

CAP RATE

9.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

21 Unit Multifamily Apartment Complex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.92 AC

LAND SF

83,635 SF

ZONING

MUNICIPAL

APN/PARCEL ID

06-11-09-300-004

ASK ABOUT THIS PROPERTY

Katie BushBarberMurphy GroupMore Info
618-277-4400

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Katie BushBarberMurphy GroupMore Info
618-277-4400

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