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921 College Ave 9 Unit Apartment Building $2,847,371 CAD ($316,375 CAD/Unit) 6.44% Cap Rate Wheaton, IL 60187
Executive Summary
921 & 933 N College Ave in Wheaton present a rare multifamily investment opportunity featuring two well-maintained buildings with a total of nine apartment units. The unit mix includes eight spacious 2-bedroom, 1-bath residences and one fully renovated 3-bedroom, 2-bath unit, thoughtfully updated in 2026 with modern finishes and improvements.
The apartments have been consistently upgraded over the years, offering a variety of interior finishes and strong tenant appeal. Each unit is separately metered, with tenants responsible for their own gas and electric utilities. Heating is provided through individual boiler baseboard systems, allowing for efficient and independent climate control. The buildings boast two laundry rooms which generate additional income.
The property also offers desirable amenities including ample storage space, garage parking, additional guest lot parking, and a large shared yard that enhances the residential setting.
The apartments have been consistently upgraded over the years, offering a variety of interior finishes and strong tenant appeal. Each unit is separately metered, with tenants responsible for their own gas and electric utilities. Heating is provided through individual boiler baseboard systems, allowing for efficient and independent climate control. The buildings boast two laundry rooms which generate additional income.
The property also offers desirable amenities including ample storage space, garage parking, additional guest lot parking, and a large shared yard that enhances the residential setting.
Property Facts
| Price | $2,847,371 CAD | Property Subtype | Apartment |
| Price Per Unit | $316,375 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.81 AC |
| Cap Rate | 6.44% | Building Size | 15,688 SF |
| Gross Rent Multiplier | 10.5 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Zoning | R5 - Mutifamily R5 | ||
| Price | $2,847,371 CAD |
| Price Per Unit | $316,375 CAD |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| Gross Rent Multiplier | 10.5 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.81 AC |
| Building Size | 15,688 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2/1,000 SF |
| Zoning | R5 - Mutifamily R5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $2,547 CAD | 650 - 900 |
| 3+2.5 | 1 | $4,187 CAD | 2,000 |
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Fairly walkable
50/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $399,426 CAD | |
| Land Assessment | $162,494 CAD | Total Assessment | $561,920 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$162,494 CAD
Improvements Assessment
$399,426 CAD
Total Assessment
$561,920 CAD
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921 College Ave
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