Peoria IL Single Family 5 Pack

Peoria, IL Stabilized 5-Pack Peoria, IL 61603

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$190,000
Last Verified:
Mar 27, 2020

Highlights

  • Located in the City of Peoria
  • No deferred maintenance
  • 100% Occupancy
  • Very attractive 12.5 CAP rate

Description

Nathan Steinwedel of KW Commercial and The Bryson Smith Team are pleased to present this solid single-family investment portfolio. This portfolio contains 5 single-family residences that are all occupied and no deferred maintenance. Offered at an attractive 12.5 CAP rate, these are a turnkey investment to add to your portfolio. Please contact Nathan Steinwedel at (309)643-9189 or Nathan@KWCommercial.com for more information.

Peoria Illinois is part of the Greater Peoria Metro Area consisting of a total population in excess of 360,000. Home to the University of Illinois College of Medicine, OSF, Proctor, Unity Point hospitals, and many more innovative and cutting edge medical facilities such as the Illinois Cancer Center. More than 26% of the workforce is employed by the medical community. OSF is a world leader in medical technology and training and houses the JUMP training center in downtown Peoria. In 2018, USA Today listed Peoria as the 22nd most innovative city in the United States based on the number of patents granted and 30% of the adult population with at least a bachelors degree. Beyond the medical field, Peoria has a rapidly expanding revitalization of the Warehouse District just South of the Downtown area. This is generating new small businesses and bringing in significant outside investments. This has also been a significant investment put into the Riverfront area generating a hub of entertainment such as festivals, concerts, dining, and more. Peoria is also home to RLI, Bradley University, and host of significant other top performing businesses. Caterpillar having moved its top 300 executives out of the area, still maintains a large portion of its manufacturing, engineering, and research in the area. Caterpillar has also renovated its cooperate offices in the downtown area in the last year signaling no intention to move any further jobs out of the area.

Building Size: 711.0sq ft
Lot Size: 0.0 acres

Map of Peoria, IL Stabilized 5-Pack, Peoria, IL, 61603

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.