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751-757 N 5th Ave 751-757 N 5th Ave 32 Unit Apartment Building $3,075,722 CAD ($96,116 CAD/Unit) 8.11% Cap Rate Kankakee, IL 60901
Investment Highlights
- Transit Oriented Location
- Value-Add Potential
- Low Maintenance Brick Buildings
- Downtown Kankakee
- Strong School District
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive sale of the multi family investment property located at 751-757 N 5th Avenue in Kankakee, Illinois (the “Property”). The Property is comprised of four (4), two-story brick buildings constructed in 1978 and contains thirty-two (32), 2-Bedroom/1 Bathroom units with 26,400 square feet of living space in 30,000 square feet of gross area on a 1.68-acre parcel of land. The well-maintained Property features an on-site laundry facility, ample on-site parking, and green space for the residents. The Property is well-located along N 5th Avenue in a residential neighborhood within walking distance of the Kankakee River and downtown Kankakee which offers a number of retail, dining, employment and entertainment amenities. N 5th Avenue is 0.5-miles from W Court Street (IL-17), the area’s primary commercial corridor connecting the Property to IL-113, IL-50, US-52 and Interstate 57. Kankakee is centrally located in Kankakee County and is roughly 52 miles south of Chicago.
Property Facts
| Price | $3,075,722 CAD | Building Class | C |
| Price Per Unit | $96,116 CAD | Lot Size | 1.68 AC |
| Sale Type | Investment | Building Size | 30,000 SF |
| Cap Rate | 8.11% | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | $3,075,722 CAD |
| Price Per Unit | $96,116 CAD |
| Sale Type | Investment |
| Cap Rate | 8.11% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.68 AC |
| Building Size | 30,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.33/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
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Walk Score®
Very Walkable (72)
Property Taxes
| Parcel Number | 16-09-32-106-034 | Improvements Assessment | $395,278 CAD |
| Land Assessment | $43,673 CAD | Total Assessment | $438,951 CAD |
Property Taxes
Parcel Number
16-09-32-106-034
Land Assessment
$43,673 CAD
Improvements Assessment
$395,278 CAD
Total Assessment
$438,951 CAD
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751-757 N 5th Ave | 751-757 N 5th Ave
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