Riverside MHP — Sale in Rock Falls, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Rock Falls, IL 61071
  • Year built: 1980

Investment Figures

Cap rate
7.00%

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 Riverside MHC, located in Rock Falls, IL, as a cash-flowing, value-add investment consisting of 109 MH lots with significant upside in both occupancy and rent growth. Located along the I-88 corridor connecting Chicago to the Quad Cities, Rock Falls and neighboring Sterling serve as a key economic region in northwest Illinois. Rock Falls is home to major employers such as Wahl Clipper Corporation, E.D. Etnyre & Co., and Self Help Enterprises, while the broader area benefits from a stable workforce and access to regional healthcare, education, and light manufacturing. The community offers access to the scenic Rock River, walkable neighborhoods, and a growing demand for affordable housing. Riverside MHC is a total of 109 MH lots, consisting of 65 tenant-owned homes (TOH, 1 Rent to Own Home (RTO, 4 vacant Park Owned Homes (POH, and 39 vacant MH lots, presenting a strong infill opportunity. The average lot rent is $320, with market lot rent estimated at $375, providing natural room for rental increases. Riverside is serviced by public water and sewer, which is directly billed to tenants. There is typically some overage in water/sewer usage that the park pays for. Trash is provided via curbside bins, also direct billed to tenants. Roads are paved and privately maintained and in average condition. The park lies partially within a flood zone, but is not in an Opportunity Zone. Riverside is being offered at a purchase price of $2,100,000, reflecting a cap rate of 7.0% on in-place operations. Investors may be able to achieve over 27% cash-on-cash returns by bringing vacant lots online and adjusting rents to market. All offers must include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience. Investment Highlights: • Majority TOH Community • Strong Value-Add Through Infill • Water, Sewer, and Trash all Billed Directly to Tenants

Market Context

This multifamily in Rock Falls, IL is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1980. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Rock Falls, IL — view the full market.

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