2106 135Th PlBlue Island, IL 60406

Property Details for 2106 135Th Pl

Year built

1964

Lot size

0.15 AC

Property size (Sq ft)

4,500 SF

Property type

Apartment buildings

Description

This exceptional six-unit apartment building presents a compelling value-add opportunity in Blue Island, Illinois. Situated on a 0.15-acre lot, this three-story brick building boasts 4,000 square feet of net rentable space within a total of 4,500 square feet. The property currently enjoys 100% occupancy, generating a strong NOI of $25,006 and a 4.17% cap rate. Built in 1964, the building features five two-bedroom/one-bathroom units and one one-bedroom/one-bathroom unit, each individually metered for electricity (tenant responsibility). Landlord responsibilities include heat, hot water, and domestic water/sewer. Recent capital improvements include a new boiler, new windows, updated hardwood flooring throughout, and upgraded bathroom tiles in select units. The roof is well-maintained. The property benefits from a prime location in a dense residential neighborhood, conveniently close to Western Avenue, a major commercial corridor, and the Vermont Street Metra station, offering easy access to both Metra Electric and Rock Island lines. Pace Bus Route 349 also serves the area. Proximity to Interstate 57 and 294 provides convenient access to Chicago and beyond. The strong demographics, with over 99,400 people within a three-mile radius and an average household income exceeding $77,598, further enhance the investment potential. The current rents are below market, presenting a significant opportunity to increase revenue. This is a fee-simple ownership opportunity priced at $600,000, or $100,000 per unit. The property's durable brick construction ensures low maintenance costs. The adjacent Calumet Woods nature preserve adds to the area's appeal.

Location Insight

City

Blue Island

County

Cook

State

Illinois

Latitude

41.6479

Longitude

-87.673

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