808 2Nd Ave Joliet, IL 60433

This exceptional 20-unit apartment building in Joliet, Illinois presents a compelling investment opportunity. Boasting 13,500 square feet of net rentable space within a 15,000-square-foot, two-story brick building situated on a 0.49-acre lot, this property offers significant value-add potential. The building features 20 one-bedroom/one-bathroom units and ample parking with 40 spaces, including 15 garage bays. Located just one mile from downtown Joliet and 0.7 miles from the Lincoln Highway (US Route 30), this property benefits from convenient access to major transportation arteries, including Metra service and Pace bus lines, as well as Interstates 80, 55, and US Routes 6, 30, and 52. Its prime location within a densely populated residential neighborhood offers proximity to numerous amenities, including schools, shopping centers (featuring big-box retailers like Walmart and Menards), restaurants, medical facilities, and recreational areas such as the Illinois & Michigan Canal Trail and Pilcher Park. Current rents are below market, presenting a clear opportunity to increase income. The strong demographics, with over 74,400 people within a 3-mile radius and an average household income exceeding $74,584, further enhance the investment appeal. The property's 8.81% cap rate and $185,056 NOI make it a highly attractive addition to any portfolio. Built in 1940, the durable brick construction ensures low maintenance costs. The asking price is $2,100,000.