4020 Charleston Rd Matteson, IL 60443

Property Details for 4020 Charleston Rd

Year built

1978

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a stabilized two-building portfolio located in Matteson, Illinois. The property comprises twelve apartment units, six in each building, situated at 4020 Charleston Road and 4052 216th Street, within the desirable Lincoln Terrace neighborhood. Built in 1978, these three-story, all-brick buildings offer a blend of renovated and unrenovated units, presenting a chance to increase rental income through further upgrades. Each unit is all-electric, with tenants responsible for heating and cooling costs. The properties boast a strong NOI of $96,122, yielding an attractive 8.01% cap rate at an asking price of $1,200,000 ($100,000 per unit). Conveniently located near the Matteson Metra train station and I-57, the buildings benefit from excellent transit access. Furthermore, the proximity to the planned redevelopment of the former Lincoln Mall site offers significant potential for future appreciation. This portfolio provides a compelling investment opportunity with substantial cash flow and upside potential in a growing area. The quiet, wooded residential setting adds to the appeal, while the nearby Route 30 and Cicero Avenue trade area ensures convenient access to amenities and services.