209 Charleston Blvd Macomb, IL 61455
- Apartment buildings
- 30,240 SF
Current Use by Public Records
- Charleston Boulevard Apartments / Real Estate Rental Agency
Property Details for 209 Charleston Blvd
- Year built
- 1960
- Property size
- 30,240 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained, 48-unit apartment building located at 209 Charleston Blvd, Macomb, Illinois, 61455. The property, built in 1960, comprises three, three-story buildings totaling 30,240 square feet of net rentable space. Offered at $2,200,000, this represents a remarkably low price per unit of approximately $45,000, significantly below current replacement cost. The property benefits from a stable occupancy and boasts significant value-add potential through moderate unit renovations and operational improvements. Current ownership has invested considerable capital in recent improvements, ensuring the property is well-maintained. Its prime location near Western Illinois University provides a strong tenant base. The property is offered free and clear of existing debt, presenting a compelling opportunity for immediate returns and long-term growth. This stabilized offering presents attractive value-add upside potential with cosmetic improvements and operational enhancements readily achievable. The property's strong fundamentals and exceptional location make it an ideal investment for discerning buyers seeking a high-return opportunity in a stable market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Macomb
- County
- McDonough
- State
- Illinois
- Longitude
- -90.6929
- Latitude
- 40.4598
