3937 Main St McHenry, IL 60050

This exceptional investment opportunity presents a 24-unit apartment building in McHenry, Illinois, situated on a 9,600 sq ft lot. The property, built in 1930, consists of two, two-story buildings and boasts a strong 10.87% cap rate with a current NOI of $75,000, translating to an asking price of $690,000 ($28,750 per unit). The property is zoned B-2 and offers convenient on-site parking for six vehicles. Its prime location near the McHenry Metra station provides easy access to public transportation, while nearby shops and restaurants enhance its appeal. The building features a mix of unit configurations; nine units have undergone recent rehabilitation. While some units share communal bathrooms on each floor, others include private sink and toilet or shower/sink/toilet combinations. All units benefit from radiant heat. A laundry facility with a coin-operated dryer and free washer is available for tenant use. This property presents a unique opportunity for investors seeking a strong return in a desirable location. The building's dorm-like setting, with rooms measuring 12x15 feet or larger, offers potential for various rental strategies. The property is offered fee simple.