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Multifamily

Maywood Oaks Apartments

1226 E Maywood Ave, Peoria, IL 61603

Listing Price: $1,200,000

Cap Rate
7.50%
Number of Units
22
GRM
6.59
Occupancy
100.0%
Price/Unit
$54,545

Investment Overview

Marcus & Millichap is pleased to offer the Maywood Oaks Apartments, a 22-unit property situated in Peoria, Illinois. Nestled on 0.59 acres of land, this well-maintained complex offers a favorable unit mix of ten one bedroom and twelve two-bedroom apartments. The property has undergone significant renovations in the past 7 years including 12 new HVAC units, 15 new furnaces, new water heaters, repaved parking lot, the installation of a mansard style steel roof as well as a new roof membrane. In-unit renovations include upgrades to flooring, and bathroom tile, fixtures, and majority of kitchen counters. Additional amenities such as on-site laundry facilities and enclosed garage spaces enhance the appeal of these apartments.

Peoria, located in central Illinois, boasts a population of 402,391 (MSA), diverse economy, cultural vibrancy, robust rental market, and esteemed educational institutions such as Bradley University. Strategically located with a major Port on the Illinois river and equidistant to Chicago and St. Louis, Peoria is home to many industries, most notably traditional manufacturing and agricultural trade. Formerly based in Peoria, Caterpillar, a leading heavy equipment manufacturer, continues to maintain a significant presence in this market, employing 12,000 people. The company holds a prominent position as one of the 30 constituents of the Dow Jones Industrial Average and is listed among the Fortune 100 companies. The Maywood Oaks Apartments are located less than 2 miles away from OSF St. Francis Medical Center, the largest employer in Peoria with over 13,500 employees and is in close proximity to the Peoria Zoo and Peoria Riverfront Museum.

Investment Highlights

  • Spacious 1-bed & 2-bed units with onsite laundry
  • Value add opportunity by raising below market rents
  • Ample parking with enclosed garage spaces available

Exclusively Listed By

  • David B. Tarnoff

    Senior Vice President Investments

    (312) 624-7017

    Email David

    License(s): IL: 471.009921, WI: 50698-94, IN: RB14050851

    Chicago Downtown

  • Patrick Suffield

    Senior Associate

    (312) 327-5419

    Email Patrick

    License(s): IL: 475.179485, MI: 6501424960, WI: 98170-94

    Chicago Downtown

  • Yianni Mouflouzelis

    Associate

    (312) 624-7074

    Email Yianni

    License(s): IL: 475.205207, MI: 6501455825

    Chicago Downtown

Multifamily

Maywood Oaks Apartments

Listing Price: $1,200,000

Cap Rate
7.50%
Number of Units
22
GRM
6.59
Occupancy
100.0%
Price/Unit
$54,545

Investment Highlights

  • Spacious 1-bed & 2-bed units with onsite laundry
  • Value add opportunity by raising below market rents
  • Ample parking with enclosed garage spaces available

Investment Overview

Marcus & Millichap is pleased to offer the Maywood Oaks Apartments, a 22-unit property situated in Peoria, Illinois. Nestled on 0.59 acres of land, this well-maintained complex offers a favorable unit mix of ten one bedroom and twelve two-bedroom apartments. The property has undergone significant renovations in the past 7 years including 12 new HVAC units, 15 new furnaces, new water heaters, repaved parking lot, the installation of a mansard style steel roof as well as a new roof membrane. In-unit renovations include upgrades to flooring, and bathroom tile, fixtures, and majority of kitchen counters. Additional amenities such as on-site laundry facilities and enclosed garage spaces enhance the appeal of these apartments. Peoria, located in central Illinois, boasts a population of 402,391 (MSA), diverse economy, cultural vibrancy, robust rental market, and esteemed educational institutions such as Bradley University. Strategically located with a major Port on the Illinois river and equidistant to Chicago and St. Louis, Peoria is home to many industries, most notably traditional manufacturing and agricultural trade. Formerly based in Peoria, Caterpillar, a leading heavy equipment manufacturer, continues to maintain a significant presence in this market, employing 12,000 people. The company holds a prominent position as one of the 30 constituents of the Dow Jones Industrial Average and is listed among the Fortune 100 companies. The Maywood Oaks Apartments are located less than 2 miles away from OSF St. Francis Medical Center, the largest employer in Peoria with over 13,500 employees and is in close proximity to the Peoria Zoo and Peoria Riverfront Museum.

Exclusively Listed By

  • David B. Tarnoff

    Senior Vice President Investments

    (312) 624-7017

    Email David

    License(s): IL: 471.009921, WI: 50698-94, IN: RB14050851

    Chicago Downtown

  • Patrick Suffield

    Senior Associate

    (312) 327-5419

    Email Patrick

    License(s): IL: 475.179485, MI: 6501424960, WI: 98170-94

    Chicago Downtown

  • Yianni Mouflouzelis

    Associate

    (312) 624-7074

    Email Yianni

    License(s): IL: 475.205207, MI: 6501455825

    Chicago Downtown

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