$400,000

Amazing opportunity to acquire a four-unit rowhouse in Joliet, IL, offering significant potential for value enhancement. The property comprises two 2-bedroom units and two 1-bedroom units, all currently in rentable condition, with minor deferred maintenance. A savvy investor can leverage the initial months' excess cashflow to address these maintenance items, subsequently boosting the property's value and rental rates. The existing rents are well below market rates. The property is owned by an Illinois licensed real estate broker. Situated in Joliet's coveted Cathedral District, renowned as one of the city's most desirable locations, the area benefits from a diverse blue-collar workforce, supported by two major casinos-Harrah's and Hollywood Casino. The Cathedral District has experienced a rise in rental prices, historic low vacancies, and a limited inventory, making it an attractive investment. Additionally, Will County's favorable tenant laws and lower property taxes have contributed to a thriving investment environment, with properties commanding cap rates around 6%.