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319 N Princeton Ave
Villa Park, IL 60181
315-3319 N Princeton Ave · Immeuble residentiel Propriété À vendre
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FAITS SAILLANTS DE L'INVESTISSEMENT
- 20 Identical two-bedroom units: uniform 2Bd/1Ba mix.
- Located in Villa Park with solid household incomes and rising home values.
RÉSUMÉ DE L'ANNONCE
315–319 N Princeton Avenue is a 20-unit apartment portfolio consisting of two adjacent 10-unit buildings in Villa Park, Illinois. The portfolio features a strong unit mix of 20 2Bd/1Ba apartments totaling 6,600 NRSF across both buildings. Ownership has completed meaningful recent capital improvements, including new balconies, 2022–2023 tuckpointing, a 2022 full tear-off roof at 319, an updated boiler, ongoing window and sliding door replacements, and several renovated units. These improvements enhance long-term durability and reduce near-term CapEx exposure.
The portfolio offers strong in-place income with meaningful upside through achievable rent growth. Current average rents of $1,125 per unit are below market levels near $1,450, representing a $325 per unit per month (˜29%) rent gap across all 20 apartments. At stabilization, the property is expected to support a stabilized 7.25% cap rate, achievable through measured rent adjustments and continued efficient management.
The portfolio offers strong in-place income with meaningful upside through achievable rent growth. Current average rents of $1,125 per unit are below market levels near $1,450, representing a $325 per unit per month (˜29%) rent gap across all 20 apartments. At stabilization, the property is expected to support a stabilized 7.25% cap rate, achievable through measured rent adjustments and continued efficient management.
FAITS SUR LA PROPRIÉTÉ
| Prix/pi² | 521,89 $ CAD / pi² | Nombre de propriétés | 2 |
| Taux de capitalisation | 7,25% | Individuellement en vente | 0 |
| Type de vente | Investissement | Taille totale du bâtiment | 6 600 pi² |
| Statut | Actif | Superficie totale du terrain | 0,50 AC |
| Prix/pi² | 521,89 $ CAD / pi² |
| Taux de capitalisation | 7,25% |
| Type de vente | Investissement |
| Statut | Actif |
| Nombre de propriétés | 2 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 6 600 pi² |
| Superficie totale du terrain | 0,50 AC |
PROPRIÉTÉS
| NOM DE LA PROPRIÉTÉ/ADRESSE | TYPE DE PROPRIÉTÉ | TAILLE | ANNÉE DE CONSTRUCTION | PRIX INDIVIDUEL |
|---|---|---|---|---|
| 319 N Princeton Ave, Villa Park, IL 60181 | Immeuble residentiel | 3 300 pi² | 1962 | - |
| 315 N Princeton Ave, Villa Park, IL 60181 | Immeuble residentiel | 3 300 pi² | 1962 | - |
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