Essex Realty Group, Inc. is proud to announce the sale of 1314 E. Roosevelt Road, a six unit apartment building in the highly desirable DuPage County suburb of Wheaton. The Property is comprised of one (1) 1Bd/1Ba unit and five (5) 2Bd/1Ba units. Within a four-week timeframe, Essex led an extensive marketing campaign resulting in more than five property tours and multiple offers. The property sold to a local investor. This is the third Wheaton transaction that Essex has closed within the last nine months.
At present, one 2Bd/1Ba unit has been recently updated with new floors, cabinetry, and appliances. The remaining units are in original condition with minor updates as needed. A future investor could continue to update the remaining apartments and increase rents to market, about $125-$200 higher than current rents. Ownership has completed several other updates to the Property, including new aluminum coating to the roof, several new windows, and a newer water heater (2018).
The Property is conveniently located off of Roosevelt Road providing tenants easy access to downtown Wheaton and nearby retail and restaurants. In addition, the Property is a short drive to I-355, making it easy for tenants to commute to the surrounding suburbs.
Essex Realty Group, Inc. has been exclusively engaged to market for sale 1314 E. Roosevelt Road, a six unit apartment building in the highly desirable DuPage County suburb of Wheaton. The Property is comprised of one (1) 1Bd/1Ba unit and five (5) 2Bd/1Ba units.
At present, one 2Bd/1Ba unit has been recently updated with new floors, cabinetry, and appliances. The remaining units are in original condition with minor updates as needed. A future investor could continue to update the remaining apartments and increase rents to market, about $125-$200 higher than current rents. Ownership has completed several other updates to the Property, including new aluminum coating to the roof, several new windows, and a newer water heater (2018).
The Property is conveniently located off of Roosevelt Road providing tenants easy access to downtown Wheaton and nearby retail and restaurants. In addition, the Property is a short drive to I-355, making it easy for tenants to commute to the surrounding suburbs.
- Six Units in Highly Desirable Suburb of Wheaton
- Attractive Unit Mix, Five (5) 2Bd/1Ba Units & One (1) 1Bd/1Ba
- Significant Rental Upside
- Recent Updates to Roof, Windows, and Mechanicals