808 Hillcrest DrDeKalb, IL 60115

Property Details for 808 Hillcrest Dr

Lot size

0.31 AC

Property type

Commercial real estate

APN

08-15-178-011

APU

815178011

Description

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.

Location Insight

City

Dekalb

County

Dekalb

State

Illinois

Latitude

41.9448

Longitude

-88.7664

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].