Bradlee Park Apartments 404 E Maple St 35 Unit Apartment Building For Sale Le Roy, IL 61752

Positioned in the heart of Le Roy, Illinois, Bradlee Park Apartments offers investors a rare opportunity to acquire a stabilized, income-restricted multifamily asset with strong fundamentals and long-term affordability compliance. Strategically located between Bloomington-Normal and Champaign-Urbana, the property benefits from proximity to major employment hubs, healthcare institutions, retail centers, and universities, while retaining the appeal of small-town living.
The 35-unit community includes a mix of studio, one-bedroom, and two-bedroom floor plans, each designed for comfort and functionality. Recent capital improvements totaling over $400,000 include new asphalt shingling, upgraded HVAC systems, and modern appliances—enhancing both curb appeal and operational efficiency. Select units feature attached patios with privacy fencing and washer/dryer hookups, adding to tenant satisfaction and retention.
As a 100% LIHTC property, Bradlee Park Apartments maintains compliance with long-term affordability standards, ensuring consistent occupancy and demand in a region with limited affordable housing options. With a pro forma gross potential rent of $330,000 and net operating income of $125,000, the asset presents a compelling investment profile with room for operational efficiencies and rent growth.
This offering is ideal for investors seeking a well-maintained, income-restricted property with a proven operating history and a secure position in the Central Illinois rental market.
Grant received from IHDA to complete improvements in exchange for 10 more years of compliance on the property. Brand new appliances in every unit + over $400K in other recent improvements