2104 Christi Lane
Christi Lane Apartmetns - The 43 apartment homes are located right off of Business Street 20 and High-line Road making the property very accessible from Highway 90 going north or south. The buildings were constructed between 1993 and 1995. The current owner has one onsite manager who is in charge of maintenance, leasing, plowing and other general management. The current owner does not live in the area and has opted to keep rents low to avoid turnover. The properties are nearby a retail corridor and a few minutes from downtown Belvidere. The neighborhood is safe and has a new playground.
Upside Potential - The average rent per square foot of the comparable rental properties is for 2 bed is $0.93. The property currently has rental rates of between $0.73-0.83. A prospective buyer could upgrade the units or market the property as is using online marketing platforms to stretch renter audience.