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Available For Sale - Multifamily

7,000 SF | Show Pricing $

AVAILABILITY DETAILS

Size
7,000 SF
Price/SF
Show Pricing $
Listing ID
SA449900
Notes
Albert Realty Advisors presents an exceptional 4-unit condo building (portfolio) in Chicago's North Lawndale community. This is a fully turn-key investment opportunity producing $70,000 in gross income. In-place Cap Rate of 10%. Cash-on-Cash Return of 17%. Why invest in apartment units when you could acquire superior quality condo finishes and amenities such as: individual central heating & A/C units, in-unit laundry, individual hot water tanks, laminate and vinyl flooring, and gated off-street parking. Top three floors are jumbo, 2,000 SF units with 3-beds and 2-bath floor plans, and 9-foot high ceilings. Lower level unit is 1,000 SF with 3-beds and 1-bath. Total rentable space of 7,000 SF across all units. Virtual 3D tour is available for viewing online. This is a low maintenance building with updated mechanical systems: HVAC, electrical and plumbing. New owner can keep condominium units or convert to apartment units in future. Fully occupied building with three market-rate tenants and one Section 8 tenant. New tenant is soon to move into top floor unit. Tenants pay gas and electric utilities. Financing options are conventional financing and cash. FHA won't qualify. Property is located 1-block from CTA Pink Line station (Pulaski), 2.3 miles from Douglas Park, 1.3 miles from I-290, and 2.3 miles from I-55. New development nearby includes Ogden Commons, a $200 million mixed-use project that will deliver 120,000 SF of commercial and retail space and more than 350 mixed-income housing units.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Damian Albert, Albert Realty Advisors