5700 Pontiac Dr Fairview Heights, IL 62208
- Apartment buildings
- 0.94 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 5700 Pontiac Dr
- Lot size
- 0.94 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 14-unit apartment building situated on a 0.94-acre lot in Fairview Heights, Illinois, at 5700 Pontiac Dr, zip code 62208. Priced at $630,000, this property boasts a compelling 10% capitalization rate. Currently generating an average rent of $630 per unit, significant revenue growth potential exists by increasing rents to market rates of $775-$850. The property includes one parking space. The building is sold as-is, offering a chance to enhance value through renovations and improvements. Projected 2024 operating expenses include a 5% vacancy factor ($5,313), local management fees ($7,438), and utilities (water, sewer, trash) totaling $10,542. Annual property taxes are $10,530, and current insurance premiums are $870.66 per month (subject to change). This multifamily investment presents a strong cash flow with substantial upside potential in a desirable location. Showings are by appointment only, following the acceptance of a purchase agreement. The property is privately owned.
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
- Fairview Heights
- County
- St. Clair
- State
- Illinois
- Longitude
- -89.9865
- Latitude
- 38.584
