Description
Presenting the multifamily asset at 2531 Burr Oak Avenue in Blue Island, IL. The property consists of six apartments. The exact unit mix is four two-bedroom/one-bath, and two one-bedroom/one-bath. The property is leased to a mix of new and longer-term tenants. 2531 Burr Oak Avenue will effectively provide an investor with a stabilized asset featuring six tenants. Multiple units have been renovated, and additional value can be added through updating the remaining units to collect higher rents. The property features six surface parking spots and a new roof, installed in 2022. The building sits minutes away from downtown Blue Island and the Olde Western Avenue Historic District featuring several retail shops and restaurants. 2531 Burr Oak Avenue is located one mile from the Blue Island Metra station and is in very close proximity to multiple Pace bus stops. This asset is being offered at a 8.73% CAP rate with tremendous cash flow and future upside.
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School Ratings & Info
Description
Presenting the multifamily asset at 2531 Burr Oak Avenue in Blue Island, IL. The property consists of six apartments. The exact unit mix is four two-bedroom/one-bath, and two one-bedroom/one-bath. The property is leased to a mix of new and longer-term tenants. 2531 Burr Oak Avenue will effectively provide an investor with a stabilized asset featuring six tenants. Multiple units have been renovated, and additional value can be added through updating the remaining units to collect higher rents. The property features six surface parking spots and a new roof, installed in 2022. The building sits minutes away from downtown Blue Island and the Olde Western Avenue Historic District featuring several retail shops and restaurants. 2531 Burr Oak Avenue is located one mile from the Blue Island Metra station and is in very close proximity to multiple Pace bus stops. This asset is being offered at a 8.73% CAP rate with tremendous cash flow and future upside.
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