Two (2) 12-unit apartment buildings (24-units total) recently renovated and For Sale at an 8.3% Cap Rate. Located in a great area just east of N Fairmount Street and less than a half mile from Scott Community College (West Campus). Unit mix includes two (2) studio units, ten (10) 1bd/1ba units, and twelve (12) 2bd/1ba units. Tenants pay separately metered gas and electric. All 24 units received interior renovations in 2022/2023, both buildings had full roof replacements in 2022, windows/doors replaced 2022/2023, mechanicals update in 2023, and balconies rebuilt in 2022. Buildings are in the city's URTE tax exemption program which freezes the assessed value for 3 years. Great opportunity for a professionally managed and stabilized investment property. Please contact listing agent for current rent roll and financials.
Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.
