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315-319 N Princeton Ave 2 Multifamily Properties Offered at $3,403,250 CAD in Villa Park, IL
Investment Highlights
- 20 Identical two-bedroom units: uniform 2Bd/1Ba mix.
- Located in Villa Park with solid household incomes and rising home values.
Executive Summary
315–319 N Princeton Avenue is a 20-unit apartment portfolio consisting of two adjacent 10-unit buildings in Villa Park, Illinois. The portfolio features a strong unit mix of 20 2Bd/1Ba apartments totaling 6,600 NRSF across both buildings. Ownership has completed meaningful recent capital improvements, including new balconies, 2022–2023 tuckpointing, a 2022 full tear-off roof at 319, an updated boiler, ongoing window and sliding door replacements, and several renovated units. These improvements enhance long-term durability and reduce near-term CapEx exposure.
The portfolio offers strong in-place income with meaningful upside through achievable rent growth. Current average rents of $1,125 per unit are below market levels near $1,450, representing a $325 per unit per month (˜29%) rent gap across all 20 apartments. At stabilization, the property is expected to support a stabilized 7.25% cap rate, achievable through measured rent adjustments and continued efficient management.
The portfolio offers strong in-place income with meaningful upside through achievable rent growth. Current average rents of $1,125 per unit are below market levels near $1,450, representing a $325 per unit per month (˜29%) rent gap across all 20 apartments. At stabilization, the property is expected to support a stabilized 7.25% cap rate, achievable through measured rent adjustments and continued efficient management.
Property Facts
| Price | $3,403,250 CAD | Number of Properties | 2 |
| Price / SF | $255.88 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7.25% | Total Building Size | 13,300 SF |
| Sale Type | Investment | Total Land Area | 0.50 AC |
| Status | Under Contract |
| Price | $3,403,250 CAD |
| Price / SF | $255.88 CAD / SF |
| Cap Rate | 7.25% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,300 SF |
| Total Land Area | 0.50 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 315 N Princeton Ave, Villa Park, IL 60181 | Multifamily | 10,000 SF | 1962 | - |
| 319 N Princeton Ave, Villa Park, IL 60181 | Multifamily | 3,300 SF | 1962 | - |
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315-319 N Princeton Ave
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