12438 Fairview AveBlue Island, IL 60406

Property Details for 12438 Fairview Ave

Year built

1962

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.14 AC

Property size (Sq ft)

3,276 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

24-25-408-027

APU

2425408027

Description

This stabilized, six-unit apartment building at 12438 Fairview Ave, Blue Island, IL 60406, presents a compelling investment opportunity. The property, a Class B, two-story building constructed in 1962, boasts 100% occupancy and a strong net operating income (NOI) of $50,611, translating to a 9.73% capitalization rate. The asking price is $520,000, or $86,667 per unit. The unit mix includes five two-bedroom/one-bathroom units and one one-bedroom/one-bathroom unit, currently generating $6,380 in monthly rental income. Three units are currently priced below market rate, offering significant potential for future rent increases. Recent renovations include unit upgrades, freshly painted common areas, and a new roof, minimizing future maintenance costs and enhancing property value. This turnkey investment provides immediate cash flow. Note that this property is also available for purchase alongside a separate property at 12930 Page Court, Blue Island, for investors seeking a larger portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,305,488

  6.5%

  $1,205,066

  7%

  $1,118,990

• Comparable approach

  Method

  Valuation

  Relative Method

  $661,383

  Geo Method

  $661,383

• Alternative Use

  Use

  Valuation

  Residential

  $1,205,066

  Hospitality

  $1,103,834

  Educational

  $918,377

  Medical

  $949,961

  Retail

  $1,428,586

Location Insight

City

Blue Island

County

Cook

State

Illinois

Latitude

41.6669

Longitude

-87.6894

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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