Investment Overview

Marcus & Millichap is pleased to exclusively present a 25-unit apartment complex located in Macomb, IL. The property includes a unit mix of twenty (20) studio units, three (3) one-bedroom units, one (1) two-bedroom unit, and one (1) unit used as a leasing office. The current leasing office is the size of a studio unit and is rent ready. The property has a walk score of 71 with it being just 0.5 miles from Western Illinois University’s main campus and 1 mile from downtown Macomb. Western Illinois University consistently enrolls more than 7,000 students each year. With the university offering few rental options nearby, this property is in a prime location to attract students. The property offers an investor the rare opportunity to enter a stable real estate market at a low basis and immediately achieve positive cash flow at the property. Through the stable rental market, a new owner would be projected to grow NOI 32% in Pro Forma without significant improvements. Through this NOI growth, an investor’s projected Cash-on-Cash could reach 15.62% in Pro Forma.