10-Unit Brick Apartment
1226 17th Ave, Rockford, IL 61104
For Sale
$950,000
Unit updates, basement storage, coin laundry, new paving, and perimeter fencing support day-to-day operations.
Property Size9,636 SF
Price / SF$98.59
Days on Market68
Property Features for 1226 17th Ave
General Information
Standard status
Size
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Coin laundry
Basement storage
Parking lot
Fencing
Building Details
Buildings
Construction
Listing Agency:
Keller Williams Realty Signature
(815) 315-1111
Listed By:
Peggy Noble · License IL #475164828
(815) 243-1771
Source:
Exprealty
Added: Sep 9
Changed: Nov 14
Last Checked: Nov 14 at 7:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Signature
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Investment Insights
Based on property information with market context.
This 10-unit brick apartment property in Rockford includes a balanced mix of eight 2-bedroom residences and two 3-bedroom residences. Each unit includes additional storage space in the basement, and the property has coin-operated laundry facilities. Several apartments have been updated, while the building also benefits from newer shingles.
Recent site improvements include a new parking lot and fencing. The sale includes the neighboring vacant lot, adding separate land to the property. Located at 1226 17th Ave, the offering combines a 9,636-square-foot multifamily building with a varied unit mix and recently completed property improvements.
Recent site improvements include a new parking lot and fencing. The sale includes the neighboring vacant lot, adding separate land to the property. Located at 1226 17th Ave, the offering combines a 9,636-square-foot multifamily building with a varied unit mix and recently completed property improvements.
Key Highlights
- 10 units: eight 2‑bedroom apartments and two 3‑bedroom apartments
- 9,636‑square‑foot brick apartment building
- Several units have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,948
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,960
$1.1M
Cap Rate 7%
$784,971
$785.0K
Cap Rate 9%
$610,533
$610.5K
Market Conditions
NOI Build-Up for 9,636 SF
Gross rent
$104.1K $10.80/SF
− Vacancy
−$4.2K −$0.43/SF
EGI
$99.9K $10.37/SF
− OpEx
−$45.0K −$4.67/SF
NOI
$54.9K $5.70/SF
Area
Rockford, IL
Vacancy
4.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,960
Cap Rate 7%
$784,971
Cap Rate 9%
$610,533
Alternative Uses
Best Use
Apartment 5plus
$785.0K
$686.9K – $915.8K
NOI $54,948 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,415 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
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Business Placement
Demographics for 61104, IL
17,354
Population
9,253
Households
1.9
Avg Household Size
32
Median Age
9%
College-Educated
75%
High-School Grad
4.5 sq mi
ZIP Area
3,856
Density / Sq Mi
$32,161
Median Household Income
$26,277
Median Earnings
$854
Median Rent
$83,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Winnebago County, IL
Properties on Market for Apartment buildings in Winnebago County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Unit updates, basement storage, coin laundry, new paving, and perimeter fencing support day-to-day operations.
Where is this apartment building located?
The property is located at 1226 17th Ave Rockford, IL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 10 units: eight 2‑bedroom apartments and two 3‑bedroom apartments; 9,636‑square‑foot brick apartment building; Several units have been updated
