Beautiful West Suburb 4-Unit Property
501 Pasadena Ave. Crest Hill IL 60403
Pricing/Terms Explained
$650,000
$162,500 / Unit
8
Beds
4
Baths
-
Sq. Ft.
Yr. Built
100%
Occupancy
8 Spaces
2 Stories
Boiler Heat
Paid, On Site
Street View
Property Summary
About The Property
Type
Two-Four Unit
In Place NOI
$29,645
Target CAP Rate
4.6%
Today's Market Value
-
Target Purchase Price
$650,000
Units
4
Projected NOI
$49,957
Market CAP Rate
-
Value w/Market Rents
-
Cost Per Unit
$162,500
Beautiful brick 4-unit building in the sprawling suburban town of Crest Hill. The building consists of (4) oversized 2-bed units, however only 3 are currently occupied, allowing an investor to come in and immediately raise the gross income of the property. The building itself is built on a large corner lot on a quiet residential block, only 400ft from the local school. The units have been well maintained by the current owner and there is ample parking in the back with at least 9 available spaces.
About the Neighborhood
Crest Hill is a small, vibrant town of 20,500 located 30 miles southwest of downtown Chicago and 5 miles north of Joliet, Illinois’ 3rd largest city. Crest Hill was incorporated in 1960 to avoid being annexed by neighboring Joliet, in order to preserve its small-town character. Today it is known for both its popular commercial districts and natural environments, particularly the Prairie Bluff Preserve on the north side of town. The town borders Lewis University to the north along with the Lewis University Regional airport.
Due
Diligence
Documents
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