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374 Lynn Dr - Lynn Drive Apartments 8 Unit Apartment Building Offered at $1,591,349 CAD at a 7.62% Cap Rate Manteno, IL 60950
INVESTMENT HIGHLIGHTS
- Fully Leased - 100% Occupancy
- Laundry Facilities and Storage in Each Building
- Common Area has 2 Ingress & Egress Entries Available for Each Unit
- Both Buildings Renovated on the Exterior and Interior in 2024 and 2025
- New Kitchen Appliances (Stove /Fridge/Dishwasher/Microwave) Included in Sale
- Limited Opportunity for Multi-Family for Sale in Market
EXECUTIVE SUMMARY
Rare Opportunity to Purchase: Two fully leased 4-unit apartment buildings for sale in Manteno, Illinois. Located at 374 and 375 Lynn Drive. Each building includes three 2-bedroom units and one 1-bedroom unit. Each building has been rehabbed with new roof, windows, sliding entry doors, asphalt driveway and parking area. 3 of the 4 units in each building have been completely renovated with new flooring, paint, lighting fixtures, kitchen cabinets, counter tops, bathrooms, appliance and more. Property offers opportunity to increase cash flow with below market rents and is for sale at below replacement cost.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,591,349 CAD | Lot Size | 1.12 AC |
| Price Per Unit | $198,919 CAD | Building Size | 8,772 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 7.62% | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1972/2024 |
| Property Type | Multifamily | ||
| Zoning | R-3 / Multi-Family | ||
| Price | $1,591,349 CAD |
| Price Per Unit | $198,919 CAD |
| Sale Type | Investment |
| Cap Rate | 7.62% |
| No. Units | 8 |
| Property Type | Multifamily |
| Lot Size | 1.12 AC |
| Building Size | 8,772 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2024 |
| Zoning | R-3 / Multi-Family |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | $1,954 CAD | 955 |
| 1+1 | 2 | $1,605 CAD | 840 |
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374 Lynn Dr - Lynn Drive Apartments
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