16-22 Benton Ave Naperville, IL 60540

Property Details for 16-22 Benton Ave

Year built

1993

Lot size

0.12 lot acres

Property type

Commercial real estate

Description

This exceptional ten-unit apartment building presents a compelling investment opportunity in the heart of vibrant downtown Naperville, Illinois. Strategically located just three blocks from the Metra station and on the western edge of the North Central College campus, this property enjoys an enviable location with high demand for rental units. The building comprises ten one-bedroom, one-bathroom apartments and one two-bedroom, two-bathroom apartment, all recently updated and boasting modern amenities. Each unit features efficient radiant heat and individual air conditioning units, ensuring year-round comfort for residents. The building is exceptionally well-maintained, exhibiting a consistent history of high occupancy rates. A significant advantage lies in the current rental rates, which are positioned below market value for the area, offering immediate potential for substantial rental income increases and a higher capitalization rate. The property sits on a 0.12-acre lot and is offered at $2,200,000. This presents a rare chance to acquire a well-established, high-performing multifamily asset in a prime Naperville location with significant upside potential for increased profitability. The on-site coin-operated laundry adds further convenience and revenue generation for the property. This is an ideal investment for those seeking a strong return on investment in a thriving and desirable market.

Location Insight

City

Naperville

County

DuPage

State

Illinois

Longitude

-88.1472

Latitude

41.7749