3440-3442 Villa Rdg
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3440-3442 Villa Rdg
8 Unit Apartment Building $575,000 ($71,875/Unit) 9.34% Cap Rate Peoria, IL 61604
Executive Summary
This fully leased, 8 unit apartment building can generate new owners immediate cash flow, with room for rent increases. Located at the end of a quiet cul de sac, this apartment complex has many updates (including roof) and is consistently fully leased. There are 7 units that are 2 bedroom/1 bathroom and one unit (3442 Villa Ridge) that is a 3 bedroom, 2 bathroom unit. 5 of the 7 units that are 2 bedroom and 1 bathroom have been recently renovated (see video walkthrough). Tenants each pay their own Ameren gas and water meters, as well as $25 per month for water (1 water/sewer meter). There is ample parking as well as a fenced in court area and land that would provide an excellent opportunity for building an additional apartment complex, covered parking, pickleball courts or storage spaces.
No showings without an accepted letter of intent to purchase, then a full walkthrough of units will be arranged.
No showings without an accepted letter of intent to purchase, then a full walkthrough of units will be arranged.
Property Facts
| Price | $575,000 | Building Class | C |
| Price Per Unit | $71,875 | Lot Size | 3.94 AC |
| Sale Type | Investment | Building Size | 8,460 SF |
| Cap Rate | 9.34% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Parking Ratio | 0.71/1,000 SF |
| Apartment Style | Low Rise |
| Price | $575,000 |
| Price Per Unit | $71,875 |
| Sale Type | Investment |
| Cap Rate | 9.34% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 3.94 AC |
| Building Size | 8,460 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 0.71/1,000 SF |
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
| 3+2 | 1 | - | - |
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PROPERTY TAXES
| Parcel Number | 13-25-451-011 | Improvements Assessment | $89,820 |
| Land Assessment | $10,780 | Total Assessment | $100,600 |
PROPERTY TAXES
Parcel Number
13-25-451-011
Land Assessment
$10,780
Improvements Assessment
$89,820
Total Assessment
$100,600
zoning
| Zoning Code | R6 |
| R6 |
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3440-3442 Villa Rdg
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