808 Hillcrest Dr DeKalb, IL 60115

This exceptional 105-unit apartment building portfolio in DeKalb, Illinois, presents a compelling value-add investment opportunity. Located on two city blocks and comprised of 14 individual buildings, the property boasts a current occupancy rate of 100% and a strong NOI of $754,483, yielding a 7.94% cap rate. A pro-forma NOI of $958,598 projects a 10.09% cap rate, indicating significant upside potential. The asking price is $9,500,000, or $90,476 per unit. The property's Class B designation and strategic location near Northern Illinois University ensure consistent rental demand. Currently, rents are below market standards, providing a clear path to increase profitability through strategic renovations and unit upgrades. 97 of the 105 units include individual laundry units. This investment offers a blend of historical charm and modern convenience, situated in a thriving community with diverse amenities and strong economic fundamentals. The property's proximity to the university creates a consistent pool of potential tenants, while the potential for rent increases through value-add improvements promises substantial returns. This is an ideal opportunity for investors seeking both financial growth and the chance to contribute to DeKalb's vibrant community. The property is located at 808 W Hillcrest Dr, DeKalb, IL 60115.