5700 Pontiac Drive, Fairview Heights IL 62208

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$630,000

5700 Pontiac Drive, Fairview Heights, IL 62208

bedrooms

bathrooms

square feet

Acreage

Open Houses

year built

1972

Full Baths

Half Baths

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Seize this rare chance to acquire three apartment buildings in the highly sought-after Fairview market, boasting a 10% cap rate and solid cash flow with immense upside potential. The 14 units currently generate an average rent of $630, while similar units in the area command $775 to $850, leaving room for substantial revenue growth by adjusting to market rates. Located in a prime area, these properties offer strong demand and long-term value. Sold strictly as-is, with deferred maintenance to address, they provide an excellent opportunity to add value through updates and improvements. Operating expenses for 2024 include 5% vacancy at $5,313, local management at $7,438 (7%), and utilities such as water, sewer, and trash totaling $10,542. Taxes are $10,530 for the 3 parcels, and insurance will vary depending on carrier. Current insurance is $870.66 per month. Don’t miss this rare opportunity to expand your portfolio in a thriving market! Viewings contingent on accepted purchase agreement.

Location
Subdivision	Hollandia
County	St Clair-IL
Elementary School	PONTIAC-W HOLLIDAY DIST 105
Middle School	PONTIAC-W HOLLIDAY DIST 105
High School	Belleville High School-East

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None scheduled.

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MLS number: 25003046

Listing agent: Christopher Kelly #475.178639

Listing broker: Real Broker, Llc (855) 450-0442

Last update: Wednesday, January 22 2025 at 5:50 p.m. EST

Kotohomes National