Property Overview

Interra Realty has been exclusively engaged to market an eleven (11) unit apartment building located in Matteson, IL. The unit mix consists of four (4) one-bedroom units, six (6) two bedroom units and a one (1) three-bedroom unit.

The property has been well maintained and upgraded throughout ownership. Recent improvements include replaced windows (2020) and updated balconies (2020). The units feature carpeted flooring, updated cabinetry (wooden/laminate face) and laminate counter tops. The units are heated by individual electric furnaces and cooled through A/C condensers (located on the roof).

In addition, the building features common laundry room (leased machines), eleven (11) on-site parking spots and one (1) garage for the 3 bedroom tenant.

The investment offers an opportunity to acquire a stabilized and cash flowing asset, in a developing Southwest suburban submarket.

Highlights

  • Well-Maintained Building with an Attractive Unit-Mix
  • Strong In-Place Cash Flow with Future Upside Potential
  • Recent Capital Improvements Made in 2020 (Replaced Windows & Updated Balconies)
  • In-close Proximity to the Metra Station & Matteson School District

Key Details

TRANSACTION DATE
2022
BUILDING SIZE
11,704 SF
NUMBER OF UNITS
11
CAP RATE
7.75%