603 North Prospect Street

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603 North Prospect Street

Cambridge, IL 61238
Asking Price
$2.00M
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • The offering includes two distinct buildings for sale.
  • The total residential footprint consists of 41 units.
  • The property is located in the town of Cambridge.
  • The current asking price is set at $1,999,999.
  • This asset is classified as a multi-family apartment building.

What's Special

Multi-family investors seeking to expand their portfolio can consider this 41-unit apartment building located at 603 North Prospect Street in Cambridge, Illinois. This offering consists of two distinct properties that provide a stable foundation for residential management and long-term rental income generation. The site is situated within a local market characterized by steady demand for housing in the Henry County area, which serves as a central hub for the surrounding agricultural and residential regions. Such an asset allows a purchaser to achieve scale through a consolidated acquisition in a quiet, accessible community setting. The configuration of the units supports ongoing operations for both private investors and professional management groups focused on residential stability. Maintaining this scale of rental housing contributes to the essential fabric of the local economy while offering a clear pathway for sustained asset performance in the Illinois submarket.

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NOI
$80,000
Cap Rate
4.00%
DSCR
0.67
Underwater
Cash-on-Cash
-6.46%
Monthly Payment
$9,894.904
Annual Cash Flow
$-38,738.846

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