5700 Pontiac Drive
Fairview Heights, IL 62208
Listed: January 22, 2025 (12 days)
Text for showing or question.

$630,000
MLS# 25003046
Commercial Sale
Status: Under Contract

5700 Pontiac Drive
Fairview Heights, IL 62208

$630,000
Status: Under Contract
Text for showing or question.

Bedrooms

Beds

Bathrooms

Bath

Sq Ft Above Grade

Sq Ft

Acres

MLS# 25003046

Days On Market: 12

Listed: Wednesday January 22, 2025 (12 days)

Times this home has been viewed: 130

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.

Property Description

Photo: 3