3900 Marybelle Ave Peoria, IL 61615

Property Details for 3900 Marybelle Ave

Lot size

13.09 lot acres

Property type

Commercial real estate

APN

13-25-176-004

APU

1325176004

Description

This exceptional investment opportunity presents a 96-unit apartment complex ideally situated at 3900 N Marybelle Avenue in Peoria, Illinois. The property encompasses a substantial 13.09 acres and boasts a total of 57,048 square feet of rentable space, distributed across eight buildings, each housing twelve units. Each unit is a comfortable one-bedroom, one-bathroom layout, measuring 550 square feet. Convenience is key, with common laundry facilities located within each building. Furthermore, each building includes at least one ADA-compliant unit, ensuring accessibility for all residents. The property benefits from professionally managed operations, maximizing efficiency and minimizing operational concerns for the owner. Significant investment in roof replacements was completed in 2018, ensuring long-term structural integrity. Currently, the property is operating under a EUA (Emergency Use Authorization) extending through 2033, designating it as low-income, senior housing. This designation provides significant advantages and potential for long-term stability. The asking price for this lucrative investment is $4,500,000. This presents a rare chance to acquire a well-maintained, high-occupancy multifamily property in a desirable location with a proven track record and significant future potential. Prospective buyers should be aware that restrictions apply due to the current EUA designation. Detailed financial information and lease agreements are available upon request. This property is offered as-is.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.6523

Latitude

40.7347

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments