Log In/Sign Up
Your email has been sent.
Sunnyside Garden Apartments 604-620 E Grant Hwy 48 Unit Apartment Building $9,771,398 CAD ($203,571 CAD/Unit) 8.01% Cap Rate Marengo, IL 60152
INVESTMENT HIGHLIGHTS
- ACTUAL CAP RATE OVER 8%
- 100% OCCUPANCY & RENT COLLECTED
- EXTREMELY WELL MANAGED PROPERTY
- NEWER ROOF, SIDING, WINDOWS AND PATIO DOORS.
- OPPORTUNITY TO INCREASE INCOME AND RAISE PROFITS.
EXECUTIVE SUMMARY
**Incredible Investment Opportunity!** This fully occupied apartment complex features long-term tenants with current rents significantly below market value, offering substantial potential for income growth. Recent updates include a newer roof (2019) and brand-new windows and patio doors (2023). The property consists of two garden-style, two-story buildings totaling 48 units: 36 two-bedroom and 12 one-bedroom apartments, each with separate utilities. The two-bedroom units in Building 620 include in-closet washers and dryers. Additionally, there is a one-story structure between the buildings that serves as an office and storage space. With 85 paved parking spaces, this property is not only a strong rental investment but also presents an excellent condo conversion opportunity. Don't miss this chance to capitalize on a fantastic income-producing asset with significant growth potential!
DATA ROOM Click Here to Access
- Market Information
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (ACTUAL - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $9,771,398 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $203,571 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 2.42 AC |
| Cap Rate | 8.01% | Building Size | 54,840 SF |
| Gross Rent Multiplier | 9.4 | Average Occupancy | 99% |
| No. Units | 48 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/1999 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Zoning | R - RESIDENTIAL MULTI-UNIT | ||
| Price | $9,771,398 CAD |
| Price Per Unit | $203,571 CAD |
| Sale Type | Investment |
| Cap Rate | 8.01% |
| Gross Rent Multiplier | 9.4 |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.42 AC |
| Building Size | 54,840 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/1999 |
| Parking Ratio | 1.55/1,000 SF |
| Zoning | R - RESIDENTIAL MULTI-UNIT |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Sprinkler System
- Range
- Tub/Shower
- Yard
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Pet Play Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | $1,693 CAD | 595 |
| 2+1 | 36 | $1,989 CAD | 895 - 1,100 |
PROPERTY TAXES
| Parcel Number | 11-36-327-042 | Total Assessment | $1,070,620 CAD (2024) |
| Land Assessment | $99,391 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $971,229 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
11-36-327-042
Land Assessment
$99,391 CAD (2024)
Improvements Assessment
$971,229 CAD (2024)
Total Assessment
$1,070,620 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
1 of 41
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Sunnyside Garden Apartments | 604-620 E Grant Hwy
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.