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111 E Palatine Rd - Duplex - Value Add 2 Unit Apartment Building Offered at $718,899 CAD at a 9.83% Cap Rate Palatine, IL 60067
INVESTMENT HIGHLIGHTS
- Great First Time Investment Opportuninty!
- Potential Redevelopment Opportunity for Correct Buyer
- .36 Acres
EXECUTIVE SUMMARY
Prime Multi-Family/Residential Rental Property in Palatine, IL
Cap rate & GRM based off proforma year 2 numbers
Welcome to 111 E Palatine Rd, an exceptional commercial property offering unparalleled opportunities for businesses in Palatine, IL. Boasting a range of recent upgrades and a strategic location within walking distance to essential amenities, this property is ready to accommodate a variety of ventures seeking a prime location and modern amenities.
Location:
111 E. Palatine Rd
Palatine, Illinois 60067
Unit Configuration:
Top Floor: 2 bed / 1 bath unit available for $1,450 per month.
Main Level: 3 bed / 1 bath unit offered at $1,875 per month.
Basement: Unfinished basement with bathroom and storage space, offering potential for additional income with the addition of a unit.
Key Features:
Brand New Roof: This property features a brand-new roof, providing enhanced durability and protection against the elements for years to come.
Brand New Plumbing: Enjoy the peace of mind of having brand-new plumbing systems installed throughout the property, ensuring optimal functionality and efficiency.
New Mechanicals: With new mechanical systems in place, including HVAC and electrical, tenants can expect reliable performance and reduced maintenance costs.
Newly Resurfaced Parking Lot: The parking lot has been freshly resurfaced, offering ample space for customers and employees and enhancing the property's curb appeal.
Convenient Location:
Situated in the heart of Palatine, this property enjoys excellent visibility and accessibility. Within walking distance, tenants have access to essential amenities, including:
Jewel grocery store
Train station
Aquatic center
Great School District:
Located within a highly regarded school district, tenants at 111 E Palatine Rd benefit from access to quality education, making it an attractive location for families and employees alike.
Opportunity Awaits:
Whether you're looking to start a new business, expand your operations, or invest in commercial real estate, 111 E Palatine Rd presents an exciting opportunity to establish your presence in a thriving market. With its recent upgrades, strategic location, and potential for additional rental income, this property is primed for success.
Schedule a Viewing:
Don't miss out on this exceptional opportunity to lease or own a premium commercial property in Palatine. Contact us today to schedule a viewing and discover the endless possibilities that await at 111 E Palatine Rd.
630.207.4434-Rocco
414.736.4609-Arthur
630.333.3560-Anthony
Cap rate & GRM based off proforma year 2 numbers
Welcome to 111 E Palatine Rd, an exceptional commercial property offering unparalleled opportunities for businesses in Palatine, IL. Boasting a range of recent upgrades and a strategic location within walking distance to essential amenities, this property is ready to accommodate a variety of ventures seeking a prime location and modern amenities.
Location:
111 E. Palatine Rd
Palatine, Illinois 60067
Unit Configuration:
Top Floor: 2 bed / 1 bath unit available for $1,450 per month.
Main Level: 3 bed / 1 bath unit offered at $1,875 per month.
Basement: Unfinished basement with bathroom and storage space, offering potential for additional income with the addition of a unit.
Key Features:
Brand New Roof: This property features a brand-new roof, providing enhanced durability and protection against the elements for years to come.
Brand New Plumbing: Enjoy the peace of mind of having brand-new plumbing systems installed throughout the property, ensuring optimal functionality and efficiency.
New Mechanicals: With new mechanical systems in place, including HVAC and electrical, tenants can expect reliable performance and reduced maintenance costs.
Newly Resurfaced Parking Lot: The parking lot has been freshly resurfaced, offering ample space for customers and employees and enhancing the property's curb appeal.
Convenient Location:
Situated in the heart of Palatine, this property enjoys excellent visibility and accessibility. Within walking distance, tenants have access to essential amenities, including:
Jewel grocery store
Train station
Aquatic center
Great School District:
Located within a highly regarded school district, tenants at 111 E Palatine Rd benefit from access to quality education, making it an attractive location for families and employees alike.
Opportunity Awaits:
Whether you're looking to start a new business, expand your operations, or invest in commercial real estate, 111 E Palatine Rd presents an exciting opportunity to establish your presence in a thriving market. With its recent upgrades, strategic location, and potential for additional rental income, this property is primed for success.
Schedule a Viewing:
Don't miss out on this exceptional opportunity to lease or own a premium commercial property in Palatine. Contact us today to schedule a viewing and discover the endless possibilities that await at 111 E Palatine Rd.
630.207.4434-Rocco
414.736.4609-Arthur
630.333.3560-Anthony
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$55,278
|
$21.71
|
| Other Income |
$1,675
|
$0.66
|
| Vacancy Loss |
$2,792
|
$1.10
|
| Effective Gross Income |
$54,162
|
$21.27
|
| Taxes |
$14,252
|
$5.60
|
| Operating Expenses |
$1,675
|
$0.66
|
| Total Expenses |
$15,927
|
$6.26
|
| Net Operating Income |
$38,234
|
$15.02
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $55,278 |
| Annual Per SF | $21.71 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,675 |
| Annual Per SF | $0.66 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,792 |
| Annual Per SF | $1.10 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $54,162 |
| Annual Per SF | $21.27 |
| Taxes (CAD) | |
|---|---|
| Annual | $14,252 |
| Annual Per SF | $5.60 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,675 |
| Annual Per SF | $0.66 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $15,927 |
| Annual Per SF | $6.26 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $38,234 |
| Annual Per SF | $15.02 |
PROPERTY FACTS
| Price | $718,899 CAD | Property Type | Multifamily |
| Price Per Unit | $359,449 CAD | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 2,546 SF |
| Cap Rate | 9.83% | Average Occupancy | 100% |
| Gross Rent Multiplier | 7.15 | No. Stories | 3 |
| No. Units | 2 | Year Built/Renovated | 1918/2018 |
| Zoning | R-2 - Could be redeveloped into Multifamily / Condos | ||
| Price | $718,899 CAD |
| Price Per Unit | $359,449 CAD |
| Sale Type | Investment |
| Cap Rate | 9.83% |
| Gross Rent Multiplier | 7.15 |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.36 AC |
| Building Size | 2,546 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1918/2018 |
| Zoning | R-2 - Could be redeveloped into Multifamily / Condos |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 1 | $2,582 CAD | 1,500 |
| 2+1 | 1 | $2,233 CAD | 850 |
1 1
Walk Score®
Very Walkable (76)
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111 E Palatine Rd - Duplex - Value Add
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