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1054 S. Mason 12 Unit Apartment Building $1,100,000 ($91,667/Unit) 7% Cap Rate Chicago, IL 60644
Investment Highlights
- Two (2) 2Bd/1Ba, Four (4) 1Bd/1Ba, & Six (6) Studios
- New Porches, Copper Plumbing, & Updated Electric
- Individual Furnaces & Hot Water Tanks
- Meticulously Maintained w/ Modern Kitchen & Baths
Executive Summary
Kiser Group is pleased to exclusively offer for purchase the sale of 1054 S, Mason, a twelve (12) unit walkup located in Chicago’s West Side's most desirable pocket, "The Island". The property sits just a few blocks from Chicago's Blue Line "El" train station at Austin as well as Columbus Park, which features ball fields, a theater, a pool & golf course.
1054 S, Mason has a total unit composition of six (6) studios, four (4) 1Bd/1Ba, & two (2) 2Bd/1Ba units. Furthermore, the building boasts newer windows, individual furnaces, individual hot water heaters & storage tanks, new porches, copper plumbing, updated electric, and an abundance of masonry and tuckpointing work.
1054 S, Mason provides an investor with a unique opportunity to acquire a well maintained and stabilized asset in Chicago’s desirable pocket of The Island. From day one, a new owner will capitalize on an incredibly strong tenant base and through improved leasing, management, and raising rents to levels already being achieved in the area, an investor has the opportunity to achieve a cap rate of almost 10%.
1054 S, Mason has a total unit composition of six (6) studios, four (4) 1Bd/1Ba, & two (2) 2Bd/1Ba units. Furthermore, the building boasts newer windows, individual furnaces, individual hot water heaters & storage tanks, new porches, copper plumbing, updated electric, and an abundance of masonry and tuckpointing work.
1054 S, Mason provides an investor with a unique opportunity to acquire a well maintained and stabilized asset in Chicago’s desirable pocket of The Island. From day one, a new owner will capitalize on an incredibly strong tenant base and through improved leasing, management, and raising rents to levels already being achieved in the area, an investor has the opportunity to achieve a cap rate of almost 10%.
Property Facts
| Price | $1,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $91,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7% | Building Size | 9,900 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | RS-3 - Residential | ||
| Price | $1,100,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,900 SF |
| No. Stories | 2 |
| Year Built | 1926 |
| Zoning | RS-3 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 600 |
| 1+1 | 4 | - | 750 |
| 2+1 | 2 | - | 850 |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-17-405-034-0000 | Improvements Assessment | $66,572 |
| Land Assessment | $9,837 | Total Assessment | $76,409 |
Property Taxes
Parcel Number
16-17-405-034-0000
Land Assessment
$9,837
Improvements Assessment
$66,572
Total Assessment
$76,409
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