SOLD

For Sale Multifamily

1015-1025 N Farnsworth Ave | Aurora, IL 60505

Property Details

Total SF

23,652

Built

1973

Units

24

Property Description

eXp Commercial is pleased to present to market Indian Creek Apartments, a fully occupied 24-unit multifamily complex on the northeast side of Aurora, Illinois, bordering affluent Naperville, Illinois, just to the east. The property is in good condition, with considerable upside in rents with modest unit updates. All units have separately metered tenant-paid water, sewer, electricity, heat, and hot water.
 
The property is comprised of two adjacent three-story, 12-unit apartment buildings on three parcels with frontage along busy Farnsworth Ave., proving no-cost marketing. The central parcel is a buildable lot offering expansion opportunities for a third 12-unit multifamily building. The unit mix consists of 22 spacious two-bedroom, one-bath units and two one-bedroom, one-bath units, each with an eat-in kitchen, pantry, and large living room. Each building has an on-site laundry room with two sets of owned washers and dryers as an added amenity for tenant attraction and retention and added income.
 
The property is ideally situated minutes south of the Interstate 88 East-West Tollway near the intersection of North Farnsworth and East Indian Trail on the northeast side of Aurora, Illinois. Located 35 miles west of Chicago, Aurora is the second-largest city in Illinois and home to a number of major employers, including Farmers Insurance Group, Rush-Copley Medical Center, Waubonsee Community College, and Provena Medical Center.

HIghlights

  • Fully Occupied 24-Unit Multifamily Property

  • Considerable Upside in Rents

  • Assumable Low-Interest Debt

  • All separate tenant-paid utilities

  • Additional central buildable lot Included

  • Low-Maintenance Tenant-Paid Electric Baseboard Heating

  • On-site Owned laundry facilities

  • High-visibility site on a busy road for marketing

  • Good condition with newer roofs and copper plumbing

  • Desirable Northeast Side of Aurora, Near Affluent Naperville

Map

Offering Memo
Multifamily Investment Sales Broker
National Multifamily Division
eXp Commercial – Chicago
P: 630.474.6441
E: [email protected]

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