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18 UNITS /// LAWNDALE 1256 S Independence Blvd 18 Unit Apartment Building $2,249,000 ($124,944/Unit) 9.55% Cap Rate Chicago, IL 60623
Executive Summary
Rehabbed, Fully Rented, and Completely Turnkey with Property Manager on the premises. All tenants are current and listed at a 9.2 CAP. This is a fantastic opportunity to acquire a rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. Each unit has its own gas meter, water heater, and electric meter. The current monthly rent roll is $24,678. Sold AS-IS.
Property Facts
| Price | $2,249,000 | Building Class | C |
| Price Per Unit | $124,944 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 18,000 SF |
| Cap Rate | 9.55% | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1909/2026 |
| Property Subtype | Apartment | Parking Ratio | 0.78/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RT-4 | ||
| Price | $2,249,000 |
| Price Per Unit | $124,944 |
| Sale Type | Investment |
| Cap Rate | 9.55% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 18,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1909/2026 |
| Parking Ratio | 0.78/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
Amenities
Unit Amenities
- Kitchen
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | 1,000 |
| 3+1 | 9 | - | 1,200 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 16-23-103-033-0000 | Improvements Assessment | $72,627 |
| Land Assessment | $13,173 | Total Assessment | $85,800 |
Property Taxes
Parcel Number
16-23-103-033-0000
Land Assessment
$13,173
Improvements Assessment
$72,627
Total Assessment
$85,800
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18 UNITS /// LAWNDALE | 1256 S Independence Blvd
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