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1007 Charlotte Dr 4 Unit Apartment Building $453,407 CAD ($113,352 CAD/Unit) 6.48% Cap Rate Normal, IL 61761
Investment Highlights
- Convenient access to Illinois State University, Heartland Community College, and Rivian Automotive
- Property is operating smoothly with stable tenancy
- Electric utilities paid by tenants reducing owner expenses
- Fully renovated units providing a turnkey investment opportunity
- Basement coin-operated laundry provides additional income
- Wall sleeve AC units for individual climate control
Executive Summary
An ideal starter investment offering convenient access to Illinois State University, Heartland Community College, and Rivian Automotive. The units have been renovated, and the property is operating smoothly, providing investors with an attractive, turnkey opportunity.
Property Facts
| Price | $453,407 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $113,352 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.48% | Building Size | 5,049 SF |
| Gross Rent Multiplier | 7.29 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1974 |
| Property Type | Multifamily | Parking Ratio | 2.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3A - Multifamily Residence | ||
| Price | $453,407 CAD |
| Price Per Unit | $113,352 CAD |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| Gross Rent Multiplier | 7.29 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 5,049 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | R-3A - Multifamily Residence |
Amenities
Site Amenities
- Laundry Facilities
- Storage Space
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-21-427-007 | Improvements Assessment | $89,363 CAD |
| Land Assessment | $23,570 CAD | Total Assessment | $112,933 CAD |
Property Taxes
Parcel Number
14-21-427-007
Land Assessment
$23,570 CAD
Improvements Assessment
$89,363 CAD
Total Assessment
$112,933 CAD
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1007 Charlotte Dr
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