Ogles Apartments 901 S 74th St
16 Unit Apartment Building $896,000 ($56,000/Unit) 10.20% Cap Rate Belleville, IL 62223
INVESTMENT HIGHLIGHTS
- 94% Occupancy.
- 13 units have been renovated with LVP Flooring
- The (1) vacant unit will be Rent Ready for Closing
- Coin Laundry Machines
EXECUTIVE SUMMARY
16-unit, 2-story apartment building at 94% occupancy located in the quiet Ogles Neighborhood in Belleville, IL. Roof last replaced in 2012. 13 of the units have been renovated in recent years with LVP flooring, new cabinets, etc. Renovated units are being leased at $800 per month. Parking lot is in good condition and has space for 22 vehicles. Carefully screened tenants.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $896,000 |
| Price Per Unit | $56,000 |
| Sale Type | Investment |
| Cap Rate | 10.20% |
| Gross Rent Multiplier | 6.46 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 20,972 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1984/2025 |
| Parking Ratio | 1.05/1,000 SF |
UNIT AMENITIES
- Walk-In Closets
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | $800.00 | - |
PROPERTY TAXES
| Parcel Number | 07-11.0-214-007 | Total Assessment | $78,069 (2023) |
| Land Assessment | $6,737 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $71,332 (2023) | Tax Year | 2024 |
ZONING
| Zoning Code | Multi-Family Residential |
