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.
Lot & Building Features
ConstructionBrick Veneer
CoolingWall Unit(s), Window Unit(s)
Heat SourceElectric
HeatingBaseboard
Parking DescriptionCarport, Unpaved, Space/Unit - 1, Parking Lot
SewerPublic Sewer
Tax Year2023
WaterPublic
Lot Dimensions0.94 acres total ft
Community and Schools
Elementary SchoolPONTIAC-W HOLLIDAY DIST 105
Junior High SchoolPONTIAC-W HOLLIDAY DIST 105
Senior High SchoolBelleville High School-East
Price History of 5700 Pontiac Drive, Fairview Heights, IL
Date
Name
Price
Difference
01/22/2025
Listing Price
$630,000
N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
1012 Plummer Drive Suite 301 Edwardsville, IL 62025 618-655-4100
Listed by Real Broker LLC, Christopher Kelly
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20%
1.6714285714286%
6.75%
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$
$
Monthly Payment
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI
5700 Pontiac Drive (MLS #25003046) is a multi-family listing located in Fairview Heights, IL.
This property was listed on 01/22/2025 and has been priced for sale at $630,000.
Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
Listing information courtesy of: Real Broker LLC
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