Larson Court Apartments — Sale in Hillsdale, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Hillsdale, IL 61257

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Investment Figures

Cap rate
8.13%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Larson Apartments, a 23-unit multifamily property located at 301 Larson Ct, Hillsdale, Illinois 61257. Spanning just over two acres, the property consists of five residential buildings offering a mix of one-, two-, and three-bedroom units across both single- and two-story layouts. The asset has benefited from recent capital improvements, including metal roof replacements, a resurfaced blacktop parking lot, and select interior renovations. Several units include private patios or decks, and the property offers an on-site coin-operated laundry facility with four washers and four dryers. The property presents a compelling opportunity for continued value enhancement. A portion of the units have already been renovated, while others provide potential for future upgrades. The current ownership structure has included informal on-site maintenance support from a long-term resident, offering operational flexibility for a new investor. Visual access to a nearby pond adds to the site’s setting and appeal for residents. Located in Hillsdale, Illinois, within Rock Island County, Larson Apartments is positioned in a quiet, residential community with convenient access to the Quad Cities metropolitan area. The region offers a mix of employment, retail, and recreational amenities, supporting steady demand for rental housing. With meaningful improvements completed and further upside available through continued renovation and leasing strategies, Larson Apartments represents a well-maintained multifamily asset with long-term value potential. Investment Highlights: • Recent Capital Improvements—Including New Metal Roofs and a Resurfaced Parking Lot—Lay the Groundwork for Future Value Creation Through Additional Interior Renovations and Rent Growth • One, Two, and Three-Bedroom Layouts—Some with Private Patios or Decks—Cater to a Broad Tenant Base and Enhance Long-Term Renter Appeal • Spanning 2+ Acres with Scenic Views and a Mix of Unit Types, the

Market Context

This multifamily in Hillsdale, IL is listed for sale. It is offered at an approximate 8.1% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Hillsdale, IL — view the full market.

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