Investment 16 Income-Producing Residential Units

Overview

  • Investment For Sale
  • 1600 North Avenue, Crystal Lake, IL 60014.
  • Price: $1,599,900
  • 9,977 sq. ft.

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Highlights

  • 100% Leased
  • 16-17 Units

INVESTMENT OPPORTUNITY
Income-Producing Residential Units

16 Residential income producing units consisting of (5) single family homes, (4) duplexes, (1) Triplex, plus a separately leasable garage with office – used as a car dealership. Zoning is B-1. Buildings are all considered legal non-conforming, (2) wells, (6) septic tanks, (3) lift stations. Several of the units have been completely rehabbed. ($125K in capital improvements in the last 2 years)

Engineering and survey done for proposed 5-unit commercial building plus (1) apartment. Potential for additional $72,000 gross income.

7.4% CAP rate. Proforma CAP rate is 8.37% bringing rents on certain units to market. Contact broker for rent roll and operating statement.

 

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