Multifamily
Lexington Concord
902 N Charles St, Macomb, IL 61455
Listing Price: $13,350,000
Cap Rate
6.34%
Number of Units
356
GRM
3.96
Occupancy
74.0%
Price/Unit
$37,500
Price/Gross SF
$44.96
Gross SF
296,910
Investment Overview
Marcus & Millichap is pleased to present Lexington & Concord Apartments in Macomb, Illinois.
Lexington Concord
Investment Highlights
- OPPORTUNITY TO PURCHASE AT A FRACTION OF REPLACEMENT COST (BELOW $40,000/UNIT)
- OWNED AND SELF-MANAGED BY OUT-OF-STATE "MOM AND POP"
- $3.5M+ OF MAJOR CAPITAL IMPROVEMENTS SINCE 2021
- SIGNIFICANT UPSIDE THROUGH HANDS ON MANAGEMENT, INCREASED OCCUPANCY AND CONTINUED UPGRADES
- LOCATED ON THE DOORSTEP OF WESTERN ILLINOIS UNIVERSITY (7,000+ ENROLLMENT)
Listing Price: $13,350,000
Cap Rate
6.34%
Number of Units
356
GRM
3.96
Occupancy
74.0%
Price/Unit
$37,500
Price/Gross SF
$44.96
Gross SF
296,910
Investment Highlights
- OPPORTUNITY TO PURCHASE AT A FRACTION OF REPLACEMENT COST (BELOW $40,000/UNIT)
- OWNED AND SELF-MANAGED BY OUT-OF-STATE "MOM AND POP"
- $3.5M+ OF MAJOR CAPITAL IMPROVEMENTS SINCE 2021
- SIGNIFICANT UPSIDE THROUGH HANDS ON MANAGEMENT, INCREASED OCCUPANCY AND CONTINUED UPGRADES
- LOCATED ON THE DOORSTEP OF WESTERN ILLINOIS UNIVERSITY (7,000+ ENROLLMENT)
Investment Overview
Marcus & Millichap is pleased to present Lexington & Concord Apartments in Macomb, Illinois.
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