3937-3939 Main St, McHenry

MULTIFAMILY INVESTMENT OPPORTUNITY

5,991 SF

23 single residence occupancy units in 2 story vintage downtown McHenry building with 20 units leased (87% occupancy).

Units rented week to week or month to month. Laundry room. Separate 400 sf leasing/management office could be converted to apartment, store or office and further monetized. Close to commuter train and downtown restaurants.

Potential for redevelopment or creative re-use. City in process of establishing TIF district and plans area capital improvements. Priced below local Assessor valuation. Management in place. Ask for rent roll and operating statement. 12.6% actual cap rate.

This is an older Class C SRO building that needs work and is priced accordingly. Being sold "as-is"