Essex Realty Group, Inc. is pleased to announce the sale of Riverwood Manor Apartments (14419 S Halsted Street), a 55 & over Active Seniors apartment complex located directly across from the Kickapoo Woods in Riverdale, IL. The subject property consists of (10) Studio and (46) One bedroom units all currently fully occupied.
The Property has been meticulously maintained by the same owner for the last 17+ years, presenting investors an incredibly rare opportunity to acquire one of the few Active Seniors apartment complexes in Riverdale. Average occupancy for the property is consistently over 97% with many long-term tenants having occupied units for over a decade.
The Riverwood Manor Apartments were completely gut renovated in 2003 with new cabinets, kitchen appliances, and finishes throughout all (56) of the units. Both the roof and windows were replaced shortly after in 2005. Units are on average between $100-$150/month below market “as-is” allowing a new investor to walk into a cash flowing and low maintenance property on day one of the investment, with significant rental upside.
- Rarely Available 55 & Over Active Seniors Apartment Complex
- Fully Occupied Complex with Numerous Long-term Tenants
- Impeccably Maintained by Long Term Ownership
- Opportunity to Scale Portfolio with (56) Occupied Units in Riverdale
- Rents on Average $100-150/month Below Market "As-Is"