Multifamily

620 Kungs Way

620 Kungs Way, Joliet, IL 60435

Listing Price: $380,000

Cap Rate
6.01%
Number of Units
4
GRM
8.86
Occupancy
96.00%
Price/Unit
$95,000
Price/Gross SF
$116.03
Gross SF
3,275

Investment Overview

Marcus & Millichap is pleased to present a four-unit apartment building located in Joliet, Illinois. The subject property consists of one one-bedroom / one-bathroom, three two-bedroom / one-bathroom units ranging from 725 to 850 square feet in size.

Ideally located near two national transportation interstates (Interstates 55 and 80); which stretch from California to New Jersey. The site is in close proximity to major new developments including IKEA's 2.8 million-square foot facility, two huge Amazon distribution centers, as well as the St. Joseph Hospital, St. Francis University, Chicagoland Speedway, and Hollywood and Harrah's Casinos amongst others. Thousands of new jobs have been created as a result of the increased recent development in the area.

With more than 150,000 residents within a five-mile radius and a rapidly growing job market, it is no wonder why Joliet has always had a historically strong rental demand. This property presents a great opportunity for an investor to acquire a very well-maintained asset with upside potential through increasing rents to market.

Investment Highlights

  • Classified As Residential- Favorable Taxes & Available Financing
  • Many Recent Capital Improvements: Roof, Windows, Hot Water Heater, Etc.
  • Off-Street Parking and Concrete Driveway
  • On-Site Laundry Facility
  • Desirable Unit-Mix

Exclusively Listed By

Listing Price: $380,000

Cap Rate
6.01%
Number of Units
4
GRM
8.86
Occupancy
96.00%
Price/Unit
$95,000
Price/Gross SF
$116.03
Gross SF
3,275

Investment Highlights

  • Classified As Residential- Favorable Taxes & Available Financing
  • Many Recent Capital Improvements: Roof, Windows, Hot Water Heater, Etc.
  • Off-Street Parking and Concrete Driveway
  • On-Site Laundry Facility
  • Desirable Unit-Mix

Investment Overview

Marcus & Millichap is pleased to present a four-unit apartment building located in Joliet, Illinois. The subject property consists of one one-bedroom / one-bathroom, three two-bedroom / one-bathroom units ranging from 725 to 850 square feet in size.

Ideally located near two national transportation interstates (Interstates 55 and 80); which stretch from California to New Jersey. The site is in close proximity to major new developments including IKEA's 2.8 million-square foot facility, two huge Amazon distribution centers, as well as the St. Joseph Hospital, St. Francis University, Chicagoland Speedway, and Hollywood and Harrah's Casinos amongst others. Thousands of new jobs have been created as a result of the increased recent development in the area.

With more than 150,000 residents within a five-mile radius and a rapidly growing job market, it is no wonder why Joliet has always had a historically strong rental demand. This property presents a great opportunity for an investor to acquire a very well-maintained asset with upside potential through increasing rents to market.

Exclusively Listed By

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