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Multifamily

Eastridge & Boxwood Portfolio

6066 Boxwood Dr, Rockford, IL 61114

Listing Price: $3,100,000

Cap Rate
6.81%
Number of Units
38
GRM
5.82
Occupancy
95.7%
Price/Unit
$81,579
Price/Gross SF
$82.01
Gross SF
37,800

Investment Overview

Marcus & Millichap is delighted to present an exceptional investment opportunity - Eastridge Townhomes & Boxwood Apartments, a well-maintained 38-unit apartment and townhome community situated in Rockford, Illinois. This property is available for sale on a free-and-clear basis.

Eastridge Townhomes:
Constructed in 1978, Eastridge Townhomes consist of four buildings located on the same street, offering individual walk-up units with two stories and basements. Each unit features a spacious 3-bedroom, 2-bathroom layout. The basements house gas forced air units and laundry facilities. Notably, the units have their own water heaters and HVAC systems. Some unit highlights include semi-galley kitchens, fireplaces, and balconies/patios. Additionally, recent upgrades include the replacement of 18 out of 32 windows and new roofs installed within the last four years.

Boxwood Apartments:
Built in 1989, Boxwood Apartments comprise buildings with four units each. Two units boast two bedrooms and one bathroom layouts, while one unit features a 1-bedroom, 1-bathroom layout. Each building is equipped with common area laundry machines. The units are heated by electric baseboards, and the electric utility costs are covered by the tenants.

Utilities and Amenities:
Tenants at Eastridge & Boxwood are responsible for all utilities except for water/sewer and trash. Each unit is equipped with its own water heater and HVAC system, providing individual control and convenience.

Location Highlights:
Rockford, Illinois, offers a plethora of recreational opportunities, including parks, sports facilities, and green spaces for outdoor activities. The proximity of Rock Cut State Park provides residents with access to hiking, boating, and fishing.

Investment Highlights

  • Townhomes Feature In-Unit Washer/Dryer Hookups | Dishwashers | Forced Air
  • Electric Baseboard | Semi Galley Kitchens
  • Updated Units with Vinyl Plank Flooring

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Multifamily

Eastridge & Boxwood Portfolio

Listing Price: $3,100,000

Cap Rate
6.81%
Number of Units
38
GRM
5.82
Occupancy
95.7%
Price/Unit
$81,579
Price/Gross SF
$82.01
Gross SF
37,800

Investment Highlights

  • Townhomes Feature In-Unit Washer/Dryer Hookups | Dishwashers | Forced Air
  • Electric Baseboard | Semi Galley Kitchens
  • Updated Units with Vinyl Plank Flooring

Investment Overview

Marcus & Millichap is delighted to present an exceptional investment opportunity - Eastridge Townhomes & Boxwood Apartments, a well-maintained 38-unit apartment and townhome community situated in Rockford, Illinois. This property is available for sale on a free-and-clear basis. Eastridge Townhomes: Constructed in 1978, Eastridge Townhomes consist of four buildings located on the same street, offering individual walk-up units with two stories and basements. Each unit features a spacious 3-bedroom, 2-bathroom layout. The basements house gas forced air units and laundry facilities. Notably, the units have their own water heaters and HVAC systems. Some unit highlights include semi-galley kitchens, fireplaces, and balconies/patios. Additionally, recent upgrades include the replacement of 18 out of 32 windows and new roofs installed within the last four years. Boxwood Apartments: Built in 1989, Boxwood Apartments comprise buildings with four units each. Two units boast two bedrooms and one bathroom layouts, while one unit features a 1-bedroom, 1-bathroom layout. Each building is equipped with common area laundry machines. The units are heated by electric baseboards, and the electric utility costs are covered by the tenants. Utilities and Amenities: Tenants at Eastridge & Boxwood are responsible for all utilities except for water/sewer and trash. Each unit is equipped with its own water heater and HVAC system, providing individual control and convenience. Location Highlights: Rockford, Illinois, offers a plethora of recreational opportunities, including parks, sports facilities, and green spaces for outdoor activities. The proximity of Rock Cut State Park provides residents with access to hiking, boating, and fishing.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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