Pine Crest Apartments 404-420 W Adams St 39 Unit Apartment Building $1,916,865 CAD ($49,150 CAD/Unit) 10.01% Cap Rate Macomb, IL 61455

Investment Highlights:
*39-unit multifamily community (w/office former office and laundry) located near Western Illinois University
*Offered at $1,350,000
*Recent third-party appraisal of $1,435,000
*Available at approximately 94% of appraised value
*April 2026 T-12 NOI of $135,084.50
*Approximately 10% in-place cap rate
*2025 NOI of $126,746.11
*Attractive basis of approximately $34,615 per unit
*Walking distance to Western Illinois University and downtown Macomb
*Opportunity to increase occupancy through continued stabilization
*Significant upside through interior modernization program
*Below replacement cost acquisition opportunity
*Proven historical operating performance
Executive Summary:
PINE CREST APARTMENTS
A&B Holdings Group, LLC is pleased to present Pine Crest Apartments, a 39-unit multifamily investment opportunity located in Macomb, Illinois. Situated within walking distance of Western Illinois University and downtown Macomb, the property offers investors a rare combination of immediate cash flow, below-appraisal pricing, and value-add potential.
The property generated a 2025 Net Operating Income of $126,746.11 and an April 2026 trailing twelve-month NOI of $135,084.50. Offered at $1,350,000, the asset is available at approximately 94% of its recent appraised value of $1,435,000.
Pine Crest Apartments currently operates as an affordable housing option within the Macomb rental market while providing investors with a solid in-place return. At the current offering price, the property achieves an approximately 10% cap rate based on actual trailing twelve-month performance.
Many units remain candidates for cosmetic modernization including updated flooring, paint, lighting, fixtures, cabinetry improvements, and other interior enhancements. These improvements provide a clear pathway for future rental growth while maintaining affordability relative to competing properties in the market.
The combination of strong current income, discount-to-appraisal pricing, and renovation upside creates a compelling opportunity for investors seeking both immediate returns and long-term value creation.