$329,900
1001, Pekin, IL 61554
Current Rent **
N/A
Projected Rent **
$10,000+
Pekin, Illinois (Peoria Area) 8 Plex Apartment Building for Sale
Updated and well-maintained 8-plex apartment building in Pekin, Illinois. All units are 1 Bedroom/1 Bathroom. This property has been renovated and is ready for the new owner to lease the renovated units for increased investment cash flow. 3 units are currently occupied and will only be shown with a letter of intent. 4 renovated, vacant units are available for showing. The estimated net operating income (NOI) on this property when fully occupied is $38,022.84 annually with an estimated, occupied CAP rate of 11%+. Renovation updates include windows, countertops, bathroom vanities and tub/surrounds, LVT floors, window AC units, water main, Ameren electric lines, and roof coating.
For more details, visit http://commercialpeoria.com/Search/Listing/PA1243667
Location:
1001, Pekin, IL 61554
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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