5700 Pontiac Drive
Fairview Heights,
IL
62208
Property Details
| List Price: |
$630,000 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
-- |
| Agency: |
Real Broker LLC |
| Agency Phone: |
(630) 423-5891 |
Description/Comments
| Lot Size: |
0 sqft |
| Property Type: |
Commercial Sale-Other |
| Year Built: |
1972 |
| Notes: |
Seize this rare chance to acquire three apartment buildings in the highly sought-after Fairview market, boasting a 10% cap rate and solid cash flow with immense upside potential. The 14 units currently generate an average rent of $630, while similar units in the area command $775 to $850, leaving room for substantial revenue growth by adjusting to market rates. Located in a prime area, these properties offer strong demand and long-term value. Sold strictly as-is, with deferred maintenance to address, they provide an excellent opportunity to add value through updates and improvements. Operating expenses for 2024 include 5% vacancy at $5,313, local management at $7,438 (7%), and utilities such as water, sewer, and trash totaling $10,542. Taxes are $10,530 for the 3 parcels, and insurance will vary depending on carrier. Current insurance is $870.66 per month. Don’t miss this rare opportunity to expand your portfolio in a thriving market! Viewings contingent on accepted purchase agreement. |
| MlsNumber: |
-- |
| ListingId: |
25003046 |
Estimate Your Monthly Payment
| Listing Provided By: |
Real Broker LLC, original listing |
| Phone: |
(314) 445-7436 |
| Office Phone: |
(630) 423-5891 |
| Agent Name: |
Christopher Kelly |
| Disclaimer: |
Copyright © 2025 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
