155 Eastern AveJoliet, IL 60432

This exceptional investment opportunity presents a 12-unit apartment building located at 155-157 N Eastern Ave, Joliet, IL 60432. The property, comprised of two attached three-story buildings on an 11,616 sq ft lot, offers a compelling combination of strong cash flow and significant upside potential. Built in 1900 and extensively renovated in 2018 and 2021, the property boasts 8,448 square feet of living space, with each of the twelve units featuring one bedroom and one bathroom. All units include individual electric forced air furnaces, central air conditioning units, and tankless water heaters. A shared laundry room is conveniently located at the rear of the building. The property also includes seven on-site parking spaces, with an additional six spaces available under a separate lease agreement. Recent upgrades include a new roof (2018), balconies, and windows. The building is fully compliant with all safety regulations, having received an occupancy permit in 2021 following the installation of a fire alarm and sprinkler system. The current Net Operating Income (NOI) stands at $126,855, representing a 9.23% capitalization rate. The asking price is $1,375,000, translating to $114,583.33 per unit and $162.76 per square foot. Tenants are responsible for electricity, a prorated share of water and garbage bills, and parking fees (where applicable). This stabilized investment property is offered for sale by owner and is held within an LLC. Serious inquiries only.