1609 Barker Ave Peoria, IL 61606

Property Details for 1609 Barker Ave

Property type

Land

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents a portfolio of nine properties comprising thirteen units of student housing situated near Bradley University in Peoria, Illinois. The portfolio boasts a current occupancy rate of 100%, generating a Net Operating Income (NOI) of $73,039, and a 6.09% capitalization rate. The asking price is $1,200,000, translating to a price per unit of $92,307.69. The properties are classified as Class C multifamily, zoned for residential use, and represent a proven value-add investment with potential for growth. The portfolio's strong performance history, coupled with its prime location near Bradley University, makes it an attractive addition to an existing student housing portfolio or a solid foundation for a new investment. The properties are all two-story buildings, offering a mix of unit types within a well-established student housing market. Further details regarding the gross revenue are available upon request. This is a compelling opportunity to acquire a stable, high-performing asset with significant upside potential in a desirable market. The portfolio's current NOI and cap rate are both projected at 6.09%. All properties are long-term performers. This offering is subject to a Non-Disclosure Agreement (NDA).