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Jeth Court Apartments, 45-Unit MF - Peoria, IL

1300-1347 W Jeth Court
Peoria,Illinois61614
  • Type : Multifamily
  • List Price : Auction
  • Size : 45 Units
  • Occupancy : 85%
  • Year Built : 1972 - 1975
  • Comments : 5 Buildings

Jeth Court is a 45-unit multi-family property complex located in the southeastern section of Peoria County. Peoria County is located in central IL, approximately 170 miles from both Chicago and St. Louis. The property consists of five, two to three story buildings constructed from 1972-1975. The unit mix is as follows: (13) 1BD/1BA (averaging 750 SF) and (32) 2BD/1.5BA apartments (averaging 1,250 SF). The property occupies 49,750 SF and is situated on six contiguous lots totaling 2.24 acres.  In addition to the 45-units, the seller will convey legal ownership and control of three apartments (in a 5-unit townhouse building) averaging 1,850 SF in size. The three townhouse units currently generate $3,410 in monthly rental income. The asset’s amenities consist of a leasing office, a laundry room and an asphalt-paved parking lot accommodating 55 total spaces (1.2. spaces / unit). Primary access within the subject neighborhood is provided by North University St., which provides access to I-74 and the Peoria CBD. North University St. traverses northern Peoria in a north-south direction. I-74 connects the Peoria area to the Bloomington-Normal area to the southeast, the Quad Cities to the northwest, and Springfield to the south via I-155. Access to Chicago usually occurs via I-55 via Bloomington. With the lack of multifamily buildings available for sale in Peoria County and strong market demand, Jeth Court offers an excellent long- term investment opportunity for qualified and experienced investors.

Broker - Joe Gehrig, CCIM
Phone - (309) 645-9735
Email - jgehrig@cbcdr.com
https://www.ten-x.com/commercial/search/il/peoria-county/multi-family_pt/all_buyformat/48_rpp/1_cp/0_row/

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