Pleased to offer for sale 2241 N. Manheim Road, a 22-unit multifamily building located in Melrose Park, Illinois. The property configuration affords excellent operational efficiency with 22 dwelling units contained within approximately 16,000 SF of gross building area. All units are Studio apartments with full kitchens and bathrooms. Current ownership has recognized strong historical occupancy by maintaining, "barrier-to-entry" rental pricing within the submarket. The property is heated by a central boiler, individually metered for electricity and master-metered for water and gas. 2241 N. Manheim offers an investor the opportunity to add value through modernization and lease renewal. The property is being offered on an as-is, where-is basis for $1,395,000 ($63,409/unit) and a cap rate of 7.01%, based on forecasted revenue. Please contact George Toscas or Linda Hattar to arrange a property tour.
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