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Multifamily

14601 Karlov Ave

14601 Karlov Ave, Midlothian, IL 60445

Listing Price: $400,000

Cap Rate
8.61%
Number of Units
5
GRM
5.84
Price/Unit
$80,000
Price/Gross SF
$108.11
Gross SF
3,700

Investment Overview

Marcus & Millichap is pleased to present this exceptional 23-unit apartment portfolio, built in the 1960s, located in the charming suburban neighborhood of Midlothian, Illinois. The property addresses for the portfolio are 14601 & 14607 Karlov Avenue and 14608 & 14636 Keystone Avenue in Midlothian, Illinois. In recent years, the Village of Midlothian has taken active steps through community programs such as "Keep Midlothian Beautiful" to upgrade the community look-and-feel and increase its attractiveness for current and future residents.

The unit mix is unique, with more than 70 percent of the units being two-bedroom units. The 23-unit portfolio is comprised of one studio / one-bathroom unit, four one-bedroom / one-bathroom units, one one-bedroom / one-and-one-half bathroom, 12 two-bedroom / one-bathroom units, and five two-bedroom / one-and-one-half bathroom. The units measure approximately, on average, 500, 750, 850, and 900 square feet, respectively. The property features brick construction, ample off-street parking, and an on-site laundry facilities.

This investment offers an investor the opportunity to acquire a well-maintained portfolio with strong in-place cash flow and further value-add potential in a strong Midlothian rental market.

Investment Highlights

  • A Part of a Four Building Portfolio
  • Brick Construction, Ample Off-Street Parking, On-Site Laundry Facilities
  • Attractive Unit Mix With Rental Upside
  • Rare Assemblage Play Offering Ability to Build Scale Quickly
  • Easy Access to Interstate 294 and Route 57
  • One-Half Mile to Midlothian Metra Station and Walking Distance to PACE Bus Stop
  • Close Proximity to Retail Options including Save-A-Lot and CVS and Nearby Dining Options include KFC and Popeyes
  • Near Springfield Elementary School and Surrounded by Recreational Parks, including Memorial Park and Midlothian Meadows

Exclusively Listed By

Multifamily

14601 Karlov Ave

Listing Price: $400,000

Cap Rate
8.61%
Number of Units
5
GRM
5.84
Price/Unit
$80,000
Price/Gross SF
$108.11
Gross SF
3,700

Investment Highlights

  • A Part of a Four Building Portfolio
  • Brick Construction, Ample Off-Street Parking, On-Site Laundry Facilities
  • Attractive Unit Mix With Rental Upside
  • Rare Assemblage Play Offering Ability to Build Scale Quickly
  • Easy Access to Interstate 294 and Route 57
  • One-Half Mile to Midlothian Metra Station and Walking Distance to PACE Bus Stop
  • Close Proximity to Retail Options including Save-A-Lot and CVS and Nearby Dining Options include KFC and Popeyes
  • Near Springfield Elementary School and Surrounded by Recreational Parks, including Memorial Park and Midlothian Meadows

Investment Overview

Marcus & Millichap is pleased to present this exceptional 23-unit apartment portfolio, built in the 1960s, located in the charming suburban neighborhood of Midlothian, Illinois. The property addresses for the portfolio are 14601 & 14607 Karlov Avenue and 14608 & 14636 Keystone Avenue in Midlothian, Illinois. In recent years, the Village of Midlothian has taken active steps through community programs such as "Keep Midlothian Beautiful" to upgrade the community look-and-feel and increase its attractiveness for current and future residents. The unit mix is unique, with more than 70 percent of the units being two-bedroom units. The 23-unit portfolio is comprised of one studio / one-bathroom unit, four one-bedroom / one-bathroom units, one one-bedroom / one-and-one-half bathroom, 12 two-bedroom / one-bathroom units, and five two-bedroom / one-and-one-half bathroom. The units measure approximately, on average, 500, 750, 850, and 900 square feet, respectively. The property features brick construction, ample off-street parking, and an on-site laundry facilities. This investment offers an investor the opportunity to acquire a well-maintained portfolio with strong in-place cash flow and further value-add potential in a strong Midlothian rental market.

Exclusively Listed By

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