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Stonebridge Apartments 1225 Lincoln Ave

60 Unit Block of Flats £3,129,800 (£52,163/Unit) 7.27% Net Initial Yield Jacksonville, IL 62650

Executive Summary

Property is current subject to rent limits per the Low Income Housing Tax Credit Program until 2034. That said, there is 20% rental upside to maximum allowable rents
95% occupancy
Well maintained and well operating

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £3,129,800 Building Class C
Price Per Unit £52,163 Lot Size 3.92 AC
Sale Type Investment Building Size 64,876 SF
Net Initial Yield 7.27% Average Occupancy 100%
No. Units 60 Number of Floors 2
Property Type Residential Year Built 2003
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Garden
Price £3,129,800
Price Per Unit £52,163
Sale Type Investment
Net Initial Yield 7.27%
No. Units 60
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 3.92 AC
Building Size 64,876 SF
Average Occupancy 100%
Number of Floors 2
Year Built 2003
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Air Conditioning
  • Balcony
  • Storage Space
  • Washer/Dryer Hookup
  • Ceiling Fans
  • Tile Floors
  • Ice Maker
  • Refrigerator
  • Wheelchair Accessible (Rooms)

Site Amenities

  • Laundry Facilities
  • Picnic Area
  • Playground
  • Grill

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+2 44 £716.72 945
3+2 16 £749.59 1,112

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PROPERTY TAXES

Parcel Number 09-30-200-034 Total Assessment £593,379 (2023)
Land Assessment £35,993 (2023) Annual Taxes -£1 (£0.00/sf)
Improvements Assessment £557,386 (2023) Tax Year 2024

PROPERTY TAXES

Parcel Number
09-30-200-034
Land Assessment
£35,993 (2023)
Improvements Assessment
£557,386 (2023)
Total Assessment
£593,379 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
(425) 761-1640

Contact

  • Listing ID: 33536093

  • Date on Market: 16/10/2024

  • Last Updated:

  • Address: 1225 Lincoln Ave, Jacksonville, IL 62650

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© 2024 CoStar Group

Stonebridge Apartments | 1225 Lincoln Ave
(425) 761-1640 x

Stonebridge Apartments | 1225 Lincoln Ave

Mike Terry

(425) 761-1640

(425) 761-1640

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