bedrooms
0
bathrooms
0
square feet
0
Acreage
-
Open Houses
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year built
1972
Full Baths
0
Half Baths
0
Seize this rare chance to acquire three apartment buildings in the highly sought-after Fairview market, boasting a 10% cap rate and solid cash flow with immense upside potential. The 14 units currently generate an average rent of $630, while similar units in the area command $775 to $850, leaving room for substantial revenue growth by adjusting to market rates. Located in a prime area, these properties offer strong demand and long-term value. Sold strictly as-is, with deferred maintenance to address, they provide an excellent opportunity to add value through updates and improvements. Operating expenses for 2024 include 5% vacancy at $5,313, local management at $7,438 (7%), and utilities such as water, sewer, and trash totaling $10,542. Taxes are $10,530 for the 3 parcels, and insurance will vary depending on carrier. Don’t miss this rare opportunity to expand your portfolio in a thriving market! Viewings contingent on accepted purchase agreement.
| Location | |
| Subdivision | Hollandia |
| County | St Clair-IL |
| Elementary School | PONTIAC-W HOLLIDAY DIST 105 |
| Middle School | PONTIAC-W HOLLIDAY DIST 105 |
| High School | Belleville High School-East |
Open houses
Find out more
Tell us who you are, and we will have someone reach out to you.
MLS number: 25003046
Listing agent:
Christopher Kelly
#475.178639
Listing broker:
Real Broker, Llc
(855) 450-0442
Copyright © 2025 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Last update: Wednesday, January 22 2025 at 12:45 p.m. EST
Kotohomes National