12906 Page CtBlue Island, IL 60406

Property Details for 12906 Page Ct

Property type

Apartment buildings

Description

This exceptional 12-unit apartment building presents a compelling investment opportunity in Blue Island, Illinois. Located at 12906 Page Ct, 60406, this three-story property boasts a strong 8.37% cap rate and a current NOI of $89,525, with a total asking price of $1,069,000. The building comprises eleven two-bedroom, one-bathroom units and one studio unit, offering a diverse mix of rental options. Several units have been recently updated, enhancing their appeal and rental potential. The property benefits from a newer double heat boiler system and includes two owner-owned washers and dryers, adding value for tenants. Its convenient location near I-57 ensures easy access to major transportation routes, shopping centers, and other amenities. The seller is committed to enhancing the property further by installing a new tear-off roof and hot water tank before closing, minimizing future capital expenditures for the new owner. Currently operating at 100% occupancy, there's significant potential to increase rental income by adjusting rents to market rates, thereby boosting the property's already impressive pro-forma cap rate of 10.50%. This multifamily investment offers a blend of immediate income and long-term growth potential, making it an attractive opportunity for discerning investors. The property is zoned MF (Multifamily). Each unit is priced at $89,083.33.

Location Insight

City

Blue Island

County

Cook

State

Illinois

Latitude

41.6592

Longitude

-87.6635

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