For Sale
$510,000

2053 135Th St Blue Island, IL 60406

Six-unit apartment building; strong NOI; excellent cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional six-unit apartment building, located at 2053 W 135th St in Blue Island, Illinois (APN 29-06-102-037), presents a compelling investment opportunity. The property boasts a total of 5,000 square feet and offers a strong net operating income (NOI) of $44,362.60, translating to an attractive 8.00% capitalization rate. The asking price is $510,000. The building comprises five two-bedroom units and one one-bedroom unit. Significant renovations have been undertaken, with four units featuring brand new kitchens, bathrooms, flooring, and appliances. The remaining units offer considerable potential for value enhancement through future upgrades. The property benefits from very strong gross rents, indicating a stable and potentially growing income stream. The seller is highly motivated, and the price has recently been reduced by nearly 10%, making this an exceptional opportunity for investors seeking a solid return in a desirable location. This property is situated in Cook County, Illinois, zip code 60406.

Highlights

  • $510,000 asking price for a six-unit apartment building.
  • 8.00% cap rate with a $44,362.60 Net Operating Income (NOI).
  • 5,000 square feet, located at 2053 W 135th St, Blue Island, IL 60406 (APN: 29-06-102-037).
  • The property features five 2-bedroom units and one 1-bedroom unit.
  • Significant renovations completed, including new kitchens, bathrooms, floors, and appliances in four units.

Property Details for 2053 135Th St

Property type
Apartment buildings
Square Feet
5,000 SF
Units
6

Location Insight

City
Blue Island
County
Cook
State
Illinois
Latitude
41.647957550025
Longitude
-87.671289064248

FAQs

What type of property is this?
Apartment building - Six-unit apartment building; strong NOI; excellent cap rate.
Where is the apartment building located?
The property is located at 2053 135Th St Blue Island, IL.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: $510,000 asking price for a six-unit apartment building.; 8.00% cap rate with a $44,362.60 Net Operating Income (NOI).; 5,000 square feet, located at 2053 W 135th St, Blue Island, IL 60406 (APN: 29-06-102-037).
How can I contact the broker?
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2053 135Th St
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