Multifamily

Victorian Apartments

800 -834 Victoria Dr, Montgomery, IL 60538

Listing Price: $14,250,000

Cap Rate
6.27%
Number of Units
152
GRM
8.15
Occupancy
92.8%
Price/Unit
$93,750
Price/Gross SF
$132.93
Gross SF
107,200

Investment Overview

Marcus & Millichap is proud to present to market Victorian Apartments, a 152-unit apartment community located in west suburban Montgomery, Illinois. The subject property is approximately 40 miles southwest of downtown Chicago. Victorian Apartments consists of 16 two and three-story apartment buildings and clubhouse spread out over almost 10 acres; offering 32 large studios, 72 one-bedrooms, and 48 two-bedroom apartment homes. Community amenities include a clubhouse, an on-site management office, laundry-facilities, fitness area with showers, outdoor pool, central courtyard area, and off-street parking. Substantial reinvestments by an experienced owner have been made in the property over the past four years, upgrading approximately 60 percent of the units to more contemporary walnut and oak finish kitchen cabinetry and countertops, ceramic tile kitchen and baths, appliances, fixtures, carpet, and property-wide deck repairs. Each unit has separately metered, tenant paid, low maintenance, electric baseboard heating. There is investor upside in this attractive multifamily investment opportunity through achievable higher market rents and further operational efficiencies.

Investment Highlights

  • 32 Large Studios, 72 One-Bedrooms and 48 Two-Bedrooms
  • Clubhouse with Office, Laundry Facilities, Fitness Area, Outdoor Pool and Courtyard
  • Located in Montgomery, Illinois | 40 Miles Southwest of Downtown Chicago
  • Upgraded Kitchens and Baths
  • Tenant Paid Electric Baseboard Heat
  • 152 Unit Suburban Multifamily Property

Exclusively Listed By

Financing By

Listing Price: $14,250,000

Cap Rate
6.27%
Number of Units
152
GRM
8.15
Occupancy
92.8%
Price/Unit
$93,750
Price/Gross SF
$132.93
Gross SF
107,200

Investment Highlights

  • 32 Large Studios, 72 One-Bedrooms and 48 Two-Bedrooms
  • Clubhouse with Office, Laundry Facilities, Fitness Area, Outdoor Pool and Courtyard
  • Located in Montgomery, Illinois | 40 Miles Southwest of Downtown Chicago
  • Upgraded Kitchens and Baths
  • Tenant Paid Electric Baseboard Heat
  • 152 Unit Suburban Multifamily Property

Investment Overview

Marcus & Millichap is proud to present to market Victorian Apartments, a 152-unit apartment community located in west suburban Montgomery, Illinois. The subject property is approximately 40 miles southwest of downtown Chicago. Victorian Apartments consists of 16 two and three-story apartment buildings and clubhouse spread out over almost 10 acres; offering 32 large studios, 72 one-bedrooms, and 48 two-bedroom apartment homes. Community amenities include a clubhouse, an on-site management office, laundry-facilities, fitness area with showers, outdoor pool, central courtyard area, and off-street parking. Substantial reinvestments by an experienced owner have been made in the property over the past four years, upgrading approximately 60 percent of the units to more contemporary walnut and oak finish kitchen cabinetry and countertops, ceramic tile kitchen and baths, appliances, fixtures, carpet, and property-wide deck repairs. Each unit has separately metered, tenant paid, low maintenance, electric baseboard heating. There is investor upside in this attractive multifamily investment opportunity through achievable higher market rents and further operational efficiencies.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower