2116 Williamsburg Dr Waukegan, IL 60085

Property Details for 2116 Williamsburg Dr

Property type

Commercial real estate

Description

This exceptional investment opportunity presents two fully occupied, 12-unit apartment buildings situated across the street from each other at 2116 & 2101 Williamsburg Dr, Waukegan, IL 60085, in Lake County. Both buildings boast recently completed renovations, including new flooring, updated kitchens with new refrigerators, ovens, and dishwashers, fresh paint, and new window coverings. Significant capital improvements have also been made, encompassing new roofs, a new water heater, and a new coin-operated washing machine in one building. Both boilers have undergone complete servicing and cleaning. Currently generating approximately $15,900 in monthly rental income, these properties offer a 7.5% cap rate. All units are updated and ready for immediate occupancy, making this a truly turnkey investment. The current rents are below market value, presenting a significant opportunity to increase income. This portfolio offers a strong foundation for a savvy investor seeking immediate cash flow and potential for future appreciation. An additional portfolio of eleven single-family homes in North Chicago is also available for purchase, potentially as a package deal. This secondary portfolio comprises a mix of three- to five-bedroom homes, with varying amenities and rental rates, totaling approximately $16,500 in monthly rental income and a total asking price of $3,000,000. The single-family homes are located at various addresses in North Chicago, IL, and have a combined annual tax liability of $47,317. This combined multifamily and single-family portfolio presents a substantial and diversified investment opportunity.