213 Robson Dr Lockport, IL 60441

Property Details for 213 Robson Dr

Year built

1980

Lot size

0.20 lot acres

Property size

5,000 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a 4-unit apartment building situated on a 0.2-acre lot in Lockport, Illinois. The two-story building, constructed in 1980, boasts 4,000 square feet of net rentable space within a total of 5,000 square feet. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $50,760, yielding a compelling 7.81% capitalization rate. Each of the four units features two bedrooms and one bathroom. On-site parking accommodates four vehicles. The property benefits from a prime location at the intersection of Robson Drive and Highland Avenue, offering convenient access to major commuter routes including IL Route 7 and Farrell Road, as well as public transportation options such as Metra and Pace bus service. Its proximity to Interstate 355 further enhances its appeal. The surrounding area is characterized by dense residential neighborhoods, and a variety of retail amenities, restaurants, and recreational facilities are within easy reach. The property's strong demographics, with average household incomes exceeding $115,000 within a 5-mile radius, contribute to its investment potential. The building features partial brick construction on the ground floor, known for its durability and low maintenance. Utilities are separately metered for each unit (electricity, heat, and hot water), with the landlord responsible for water and sewer. The current rents are below market, presenting a significant value-add opportunity for potential increases. This property is an ideal investment for those seeking strong cash flow and appreciation potential in a desirable location. The asking price is $650,000.

Location Insight

City

Lockport

County

Will

State

Illinois

Longitude

-88.0302

Latitude

41.5991