Ken-Rock Apartments | 1631 Hamilton Ave
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Ken-Rock Apartments 1631 Hamilton Ave
31 Unit Apartment Building $1,700,000 ($54,839/Unit) 6.92% Cap Rate Rockford, IL 61109
Investment Highlights
- Must be Purchased by a Qualified Non-Profit
- 100% HAP
- Tax Exempt Entity Structure
- 91a REAC
- 1st Time Offered for Sale
Executive Summary
Ken Rock Elderly Apartments is a 100% Project-Based Section 8 age-restricted low-rise building built in 1988. The property consists of 31 units in a 2-story elevator-serviced building. The property is governed by the HAP Agreement and is currently under Option 4, which is set to expire in 2031. The property has a great location and is consistently well-occupied.
Property Facts
| Price | $1,700,000 | Apartment Style | Low Rise |
| Price Per Unit | $54,839 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.99 AC |
| Cap Rate | 6.92% | Building Size | 23,994 SF |
| Gross Rent Multiplier | 5.48 | Average Occupancy | 100% |
| No. Units | 31 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parcel Number | 15-01-376-001 |
| Price | $1,700,000 |
| Price Per Unit | $54,839 |
| Sale Type | Investment |
| Cap Rate | 6.92% |
| Gross Rent Multiplier | 5.48 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.99 AC |
| Building Size | 23,994 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parcel Number | 15-01-376-001 |
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 31 | - | - |
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Walk Score ®
Very Walkable (76)
zoning
| Zoning Code | R4 (Residential Two-Flat, Townhouse and Multi-Unit District) |
| R4 (Residential Two-Flat, Townhouse and Multi-Unit District) |
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Ken-Rock Apartments | 1631 Hamilton Ave
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