Larson Apartments 301-306 Larson Ct 23 Unit Apartment Building $1,698,876 CAD ($73,864 CAD/Unit) 8.13% Cap Rate Hillsdale, IL 61257

Marcus & Millichap is pleased to present Larson Apartments, a 23-unit multifamily property located at 301 Larson Ct, Hillsdale, IL 61257. Spanning just over two acres, the property consists of five residential buildings offering a mix of one-, two-, and three-bedroom units across both single- and two-story layouts. The asset has benefited from recent capital improvements, including metal roof replacements, a resurfaced blacktop parking lot, and select interior renovations. Several units include private patios or decks, and the property offers an on-site coin-operated laundry facility with four washers and four dryers.
The property presents a compelling opportunity for continued value enhancement. A portion of the units have already been renovated, while others provide potential for future upgrades. The current ownership structure has included informal on-site maintenance support from a long-term resident, offering operational flexibility for a new investor. Visual access to a nearby pond adds to the site’s setting and appeal for residents.
Located in Hillsdale, IL, within Rock Island County, Larson Apartments is positioned in a quiet, residential community with convenient access to the Quad Cities metropolitan area. The region offers a mix of employment, retail, and recreational amenities, supporting steady demand for rental housing. With meaningful improvements completed and further upside available through continued renovation and leasing strategies, Larson Apartments represents a well-maintained multifamily asset with long-term value potential.