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    3937 Main St McHenry, IL 60050

    Sponsored
    For Sale
    $690,000

    24-Unit Apartment Building, High ROI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a 24-unit apartment building in McHenry, Illinois, situated on a 9,600 sq ft lot. The property, built in 1930, consists of two, two-story buildings and boasts a strong 10.87% cap rate with a current NOI of $75,000, translating to an asking price of $690,000 ($28,750 per unit). The property is zoned B-2 and offers convenient on-site parking for six vehicles. Its prime location near the McHenry Metra station provides easy access to public transportation, while nearby shops and restaurants enhance its appeal. The building features a mix of unit configurations; nine units have undergone recent rehabilitation. While some units share communal bathrooms on each floor, others include private sink and toilet or shower/sink/toilet combinations. All units benefit from radiant heat. A laundry facility with a coin-operated dryer and free washer is available for tenant use. This property presents a unique opportunity for investors seeking a strong return in a desirable location. The building's dorm-like setting, with rooms measuring 12x15 feet or larger, offers potential for various rental strategies. The property is offered fee simple.

    Property Features for 3937 Main St

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Built
    1930
    Buildings
    2
    Stories
    2
    Units
    24

    HighLights

    • $690,000 asking price for a 24‑unit apartment building.
    • 10.87% cap rate with a $75,000 NOI.
    • Located in McHenry, IL, at 3937 Main St, 60050.
    • Fee simple ownership of this Class B multifamily property.
    • Features 2 buildings, 2 stories, and a 9,600 sq ft lot with 6 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McHenry
    County
    McHenry
    State
    Illinois
    Longitude
    -88.275243357241
    Latitude
    42.343737850447

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    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 3937 Main St McHenry, IL.
    What is the asking price?
    The asking price for this property is $690,000.
    What are key features of this property?
    This property features: $690,000 asking price for a 24-unit apartment building.; 10.87% cap rate with a $75,000 NOI.; Located in McHenry, IL, at 3937 Main St, 60050.
    Request Owner's contact information
    3937 Main St McHenry, IL 60050
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3937 Main St McHenry, IL 60050
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