- List Price $1,210,000
- Price / Unit $151,250
- Property Type Multifamily
- Units 8
- Current Rents $122,760
- Pro Forma Rents $126,960
- In Place NOI $84,328
- Projected NOI $92,687
- Market CAP Rate 7%
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 13
- 7
- 6969
- 1937
- 100%
- Street
- 2
- Forced Air
- Varies
- Common, Paid
13
7
6969
- 1937
- 100%
- 13
- 2
- Forced Air
- Forced Air
- Common, Paid
About the property
INVESTOR ALERT! Fantastic investment opportunity in Joliet IL, a solid 8-unit brick building in the heart of Joliet offering strong rental income and future upside. Property features a mix of one- and two-bedroom apartments, well-maintained common areas, street parking, and recent updates including roof and mechanicals. Tenants enjoy convenient access to highways, shopping, schools, and public transportation. Consistently rented with room for value-add improvements to maximize returns. A great addition to any investor’s portfolio-schedule your showing today!
About the neighbourhood
- Located in the heart of Joliet, this property offers the perfect blend of convenience and community. Residents enjoy easy access to major highways including I‑55 and I‑80, making commuting a breeze. The neighborhood is close to shopping centers, restaurants, parks, and recreational amenities, as well as top-rated schools. Public transportation options are nearby, providing added convenience for residents. With a strong sense of community and steady rental demand, this area is ideal for both residents and investors alike.
Municipality - Investor Guide
Joliet
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N | Cost: None | Required: No | Required: Yes |
| Seller: Y | Cost: Yes | Cost: $0 | Cost: $0 |
| Notes | |||
| A residential transfer information and disclosure form is required before contract entered into if residential (single family, condominium or townhome). A Water/Lien Letter is required to purchase transfer stamp. Letter good for 4 business dates from the date of the final meter reading. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
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Walkscore
Nearby
- Arts & Entertainment
-
Cunningham M J School (0.18 mi)
-
Talent Zone (0.37 mi)
-
Brushed Adrienne Benet Studio (0.39 mi)
- Education
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Schools Public (0.18 mi)
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Cunningham M J School (0.18 mi)
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Schools Public (5.2 mi)
- Food
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Universal Food Market African and Caribbean (0.16 mi)
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China China Restaurant (0.27 mi)
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Andy & Sophies Tavern (0.28 mi)
- Health & Medical
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Best Image Dental (0.43 mi)
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Maffeo John, DDS (0.44 mi)
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Dr Maffeo (0.42 mi)
Contact Information
- List Price $1,210,000
- Property Type Multifamily
- Current Rents $122,760
- In Place NOI $84,328
- Price / Unit $151,250
- Units 8
- Pro Forma Rents $126,960
- Projected NOI $92,687
- Market CAP Rate 7%
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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Based on Citypoint’s communication with the seller, the price point listed is a price that the seller should be willing to transact at. Any terms for, or against, the seller can help/hurt this price level.
Many sellers have loan balances that need to be paid off at closing. If the seller’s net proceeds after commissions, taxes, closing fees, rent credits, security deposit credits, etc fall below their current loan balance the price will most likely be denied by the seller.
Bid prices are subject to final seller confirmation. Seller confirmation is subject to a final buyer and seller signed contract.
Multiple bids from multiple parties may exist.
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