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Multifamily

River Oaks Apartments

1215 24th St Pl, Moline, IL 61265

Listing Price: $2,850,000

Cap Rate
6.64%
Number of Units
42
Occupancy
94.0%
Price/Unit
$67,857
Price/Gross SF
$73.64
Gross SF
38,702

Investment Overview

River Oaks Apartments is a 42-unit multifamily apartment building located in Moline, Illinois. Built in 1965, the property consists of one, three-story, elevator building. The property sits on an approximate 2.10-acre site on the bluffs of the Mississippi river in a secluded, wooded community. The unit mix is comprised of 16 one-bedroom / one-bathroom with approximately 567 square feet and 26 two-bedroom / one bathroom units with approximately 822 square feet. Kitchens are fully-equipped with refrigerator, electric stove, microwave, and dishwasher. The property offers elevator access, on-site laundry facilities, and underground garage parking. Conveniently located in a residential community along the Mississippi River, the property is just minutes to local shopping and dining with direct access to Interstate 74. The Quad City area boasts great shopping, recreation, entertainment, educational, medical, culture and religious options all within close proximity. Most amenities including restaurants, schools, grocery stores as well as the SouthPark mall and Rock Island Arsenal are all within minutes of River Oak Apartments.

Investment Highlights

  • Well-Maintained Property with Many Recent Upgrades
  • Convenient Location with Easy Access to Interstates 74 and 80 and Minutes from Downtown Moline/Quad Cities.
  • Excellent Mix of One and Two Bedroom Units
  • Amenities Include Elevator Access, On-Site Laundry and Underground Parking
  • Recent Capital Improvments Include; 2010 - Elevator Modernization – $65,780.00 2015 - Retaining Wall for Underground Parking Ramp - $14,225.00 2015 – Three Boiler(s) Complete Replacement (High Efficiency) - $41,742.00 2017 – Common Hallway Upgrade (Flooring and Paint) – $5,873.25 2019 and 2020 – Windows (Whole Building) - $77,000.00 2020 – Commercial Water Heater - $5,950.00 2020 – Parking Lot Resurface – $3,860.00 2021 – Roof (Complete Tear Off and Replacement) - $86,244.2

Exclusively Listed By

  • Scott D. Harris

    Senior Managing Director Investments

    (630) 570-2220

    Email Scott

    License(s): IA: B65027000, WI: 15869-090, IN: RB14049474, IL: 475.139778

    Chicago Oak Brook

  • Thomas Oster

    Associate

    (630) 570-2218

    Email Thomas

    License(s): IL: 475.177113

    Chicago Oak Brook

Multifamily

River Oaks Apartments

Listing Price: $2,850,000

Cap Rate
6.64%
Number of Units
42
Occupancy
94.0%
Price/Unit
$67,857
Price/Gross SF
$73.64
Gross SF
38,702

Investment Highlights

  • Well-Maintained Property with Many Recent Upgrades
  • Convenient Location with Easy Access to Interstates 74 and 80 and Minutes from Downtown Moline/Quad Cities.
  • Excellent Mix of One and Two Bedroom Units
  • Amenities Include Elevator Access, On-Site Laundry and Underground Parking
  • Recent Capital Improvments Include; 2010 - Elevator Modernization – $65,780.00 2015 - Retaining Wall for Underground Parking Ramp - $14,225.00 2015 – Three Boiler(s) Complete Replacement (High Efficiency) - $41,742.00 2017 – Common Hallway Upgrade (Flooring and Paint) – $5,873.25 2019 and 2020 – Windows (Whole Building) - $77,000.00 2020 – Commercial Water Heater - $5,950.00 2020 – Parking Lot Resurface – $3,860.00 2021 – Roof (Complete Tear Off and Replacement) - $86,244.2

Investment Overview

River Oaks Apartments is a 42-unit multifamily apartment building located in Moline, Illinois. Built in 1965, the property consists of one, three-story, elevator building. The property sits on an approximate 2.10-acre site on the bluffs of the Mississippi river in a secluded, wooded community. The unit mix is comprised of 16 one-bedroom / one-bathroom with approximately 567 square feet and 26 two-bedroom / one bathroom units with approximately 822 square feet. Kitchens are fully-equipped with refrigerator, electric stove, microwave, and dishwasher. The property offers elevator access, on-site laundry facilities, and underground garage parking. Conveniently located in a residential community along the Mississippi River, the property is just minutes to local shopping and dining with direct access to Interstate 74. The Quad City area boasts great shopping, recreation, entertainment, educational, medical, culture and religious options all within close proximity. Most amenities including restaurants, schools, grocery stores as well as the SouthPark mall and Rock Island Arsenal are all within minutes of River Oak Apartments.

Exclusively Listed By

  • Scott D. Harris

    Senior Managing Director Investments

    (630) 570-2220

    Email Scott

    License(s): IA: B65027000, WI: 15869-090, IN: RB14049474, IL: 475.139778

    Chicago Oak Brook

  • Thomas Oster

    Associate

    (630) 570-2218

    Email Thomas

    License(s): IL: 475.177113

    Chicago Oak Brook

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