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824 Washington Ave
Alton, IL 62002
Cedar Lodge · Multifamily Property For Sale
·
45 Units
INVESTMENT HIGHLIGHTS
- Shaded woodland views
- Courtyard
- Laundry facilities
EXECUTIVE SUMMARY
***192 total apartments for sale. Must be sold as a package. 4 complexes within one block of each other. 4 address' are 112 Manor Court(64 units), 744 Washington(28 units), 824 Washington(45 units), and 1101 Washington(55 units)***
The Gallery Illinois comprises of four multifamily properties, each offering a mix of unit sizes and layouts ranging from studios to three-bedroom apartments which cater to a broad tenant base. This diversity enhances occupancy rates and income stability. Occupancy across the portfolio is historically 97%. Alton’s growing population and its appeal as a commuter town for St. Louis contribute to a robust rental market, ensuring consistent demand for multifamily housing. The portfolio offers a blend of affordability, growth potential, and stable rental demand.
The Gallery Illinois comprises of four multifamily properties, each offering a mix of unit sizes and layouts ranging from studios to three-bedroom apartments which cater to a broad tenant base. This diversity enhances occupancy rates and income stability. Occupancy across the portfolio is historically 97%. Alton’s growing population and its appeal as a commuter town for St. Louis contribute to a robust rental market, ensuring consistent demand for multifamily housing. The portfolio offers a blend of affordability, growth potential, and stable rental demand.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 1.98 AC |
| No. Units | 45 | Building Size | 85,932 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | B | ||
| Zoning | R4 | ||
| Sale Type | Investment |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.98 AC |
| Building Size | 85,932 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1963 |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Pool
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 682 |
| 2+1 | 33 | - | 806 |
| 3+2 | 5 | - | 1,085 |
PROPERTY TAXES
| Parcel Number | 23-2-08-07-17-301-011 | Improvements Assessment | $735,635 CAD |
| Land Assessment | $36,338 CAD | Total Assessment | $771,973 CAD |
PROPERTY TAXES
Parcel Number
23-2-08-07-17-301-011
Land Assessment
$36,338 CAD
Improvements Assessment
$735,635 CAD
Total Assessment
$771,973 CAD
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