Closed

$372,500

Favorite

beds

baths

1015 N Broadway Street

Joliet, Illinois 60435

Closed / MLS #11990484 / Multiple Unit (2-4) / Joliet

Listing information updated 4/19/2024 at 11:03am

Amazing opportunity to acquire a four-unit rowhouse in Joliet, IL, offering significant potential for value enhancement. The property comprises two 2-bedroom units and two 1-bedroom units, all currently in rentable condition, with minor deferred maintenance. A savvy investor can leverage the initial months' excess cashflow to address these maintenance items, subsequently boosting the property's value and rental rates. The existing rents are well below market rates. The property is owned by an Illinois licensed real estate broker. Situated in Joliet's coveted Cathedral District, renowned as one of the city's most desirable locations, the area benefits from a diverse blue-collar workforce, supported by two major casinos-Harrah's and Hollywood Casino. The Cathedral District has experienced a rise in rental prices, historic low vacancies, and a limited inventory, making it an attractive investment. Additionally, Will County's favorable tenant laws and lower property taxes have contributed to a thriving investment environment, with properties commanding cap rates around 6%.

Full Features

Exterior Type:

Vinyl Siding

Basement:

None

Beds Above Grade:

Heating System:

Natural Gas

Pool:

Age:

61-70 Years

Parking Type:

Space/s

Room Count:

Water Front:

Square Feet:

N/A

Lot Size:

Less Than .25 Acre

Taxes & Assessments

Tax Amount:

$6,903

Tax Year:

2022

Location

Zip Code:

60435

City:

Joliet

County:

Will

Schools

School District(s):

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Listing Office: Citypoint Illinois LLC

Listing Office Phone: 847.744.5003

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 4/19/2024 at 11:03am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Joliet, IL

Joliet is known as the "Crossroads of Mid-America." As the third largest city in Illinois, Joliet benefits from two major interstates, I-80 and I-55, in addition to two Metra commuter lines and Amtrak service. Joliet is named after Louis Jolliet, an explorer who visited the area on a canoe voyage up...

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$251,230

Average Sale Price

Average Days On The Market

100%

Sales Prices VS. List Price

Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.

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1015 N Broadway Street is a multiple unit (2-4) which sold for $372,500. 1015 N Broadway Street features 6 Beds, 4 Baths. This multiple unit (2-4) has been listed on @properties since February 27th, 2024 and was built in 1959.