805 N Court St
22 Unit Apartment Building $1,450,000 ($65,909/Unit) 6.17% Cap Rate Rockford, IL 61103
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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.
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 | - | - |
1 of 1
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
Parcel Number | 11-23-129-008 | Improvements Assessment | $173,684 |
Land Assessment | $2,913 | Total Assessment | $176,597 |
ZONING
Zoning Code | R4 |