805 N Court St

22 Unit Apartment Building $1,450,000 ($65,909/Unit) 6.17% Cap Rate Rockford, IL 61103

INVESTMENT HIGHLIGHTS

  • All units recently renovated
  • Value-Add Opportunity
  • Below Market Rents
  • Can be purchased with 54 Unit Property located at 2425 Wesleyan

EXECUTIVE SUMMARY

SVN is pleased to present 805 N Court Street in Rockford, Illinois. 805 N. Court Street consists of six (6) studios and sixteen (16) one-bedroom apartments designed for comfortable living. Each unit has been recently renovated with updated kitchen, baths, mechanicals, plumbing/electrical where necessary and the parking lot was resealed and striped. The property rents are currently below market offering an investor a rare opportunity to organically raise rents upon acquisition.
Situated in the downtown corridor of Rockford, the property is close to local amenities, shopping centers, and parks, making it an ideal choice for those seeking both comfort and accessibility in Rockford. Rockford was also voted #1 in 2024 for its housing market according to the Wall Street Journal. Please give us a call to learn more about 805 N. Court Street apartments.

PROPERTY FACTS

Price $1,450,000
Price Per Unit $65,909
Sale Type Investment
Cap Rate 6.17%
No. Units 22
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class B
Lot Size 0.28 AC
Building Size 16,932 SF
Average Occupancy 100%
No. Stories 2
Year Built 1967

SITE AMENITIES

  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 4 - -
1+1 18 - -
Bike Score®
Very Bikeable (71)

PROPERTY TAXES

ZONING

Zoning Code R4
  • Listing ID: 34902433

  • Date on Market: 2/21/2025

  • Last Updated:

  • Address: 805 N Court St, Rockford, IL 61103