Courtesy: Keller Williams Preferred Rlty
708-798-1111
**FIVE-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY IN MANHATTAN, IL!** Fully occupied, legally established five-unit income-producing property in Will County, offering approximately $89,400 in annual scheduled rental income with additional rental growth potential. The property features four 2-bedroom, 1-bath apartments and a spacious two-story, 3-bedroom, 2-bath owner's-style unit with an attached one-car garage. This larger unit offers two separate living areas, an updated kitchen, central air conditioning, and private laundry hookups, making it suitable for continued rental use or potential future owner occupancy, subject to existing tenancies. One additional apartment features an updated kitchen. The water heater, furnace, and central air conditioning system are approximately 10 years old. All five units are separately metered for electricity, with tenants responsible for their individual electric usage. Additional amenities include dedicated on-site parking and coin-operated laundry facilities with machines less than four years old. All units are currently occupied under month-to-month rental arrangements. Three units have not had rental adjustments in an extended period, presenting an opportunity to evaluate potential rent increases based on current market conditions and applicable laws. With established rental income, a desirable unit mix, and potential for increased revenue, this Manhattan multifamily property offers an attractive opportunity for investors seeking an income-producing asset in the southwest Chicago suburbs. Rent roll and operating expense information available upon request.
Manhattan is located in Illinois. Manhattan, Illinois has a population of 9,366. Manhattan is more family-centric than the surrounding county with 52.06% of the households containing married families with children. The county average for households married with children is 37.33%.
The median household income in Manhattan, Illinois is $112,706. The median household income for the surrounding county is $95,751 compared to the national median of $69,021. The median age of people living in Manhattan is 33.9 years.
The average high temperature in July is 84 degrees, with an average low temperature in January of 16 degrees. The average rainfall is approximately 39.2 inches per year, with 29 inches of snow per year.
