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1303 W Ohio St 6 Unit Apartment Building $1,300,000 ($216,667/Unit) 6.28% Cap Rate Chicago, IL 60642
INVESTMENT HIGHLIGHTS
- The roof was replaced about 5 years ago and the rear windows are newer.
- There is ample room to increase income through rent increases given that the current rents are below market value.
- The property is free of any City of Chicago violations.
- This is a well-maintained 6-unit building in a thriving and energetic Chicago community!
- Every unit has a dedicated in-unit washer-and-dryer in the common area and each unit has a forced air system.
EXECUTIVE SUMMARY
This all brick, 6-unit building is an excellent West Town location! There are three front facing units and three rear facing units. One of the 6 units consists of a 1-bedroom, 1-bathroom unit. The remaining five units consist of 2-bedroom, 1-bathroom units. All units are on month-to-month leases and at below market rents; there is significant room for rent increases with a touch of cosmetic work. Investors can easily capture $2,000 per month per unit in rental income! Equally important, each unit is quaint and cozy with its open concept floor plan, exposed kitchen, very high ceilings and large windows that welcome natural sunlight all units. And the area is just exceptional, which translates into very strong rental demand and, hence, low vacancies. It is minutes to the Kennedy, Ogden International School of Chicago, Fulton Market, restaurants, transportation, parks and so much more! A must see! A 10!
PROPERTY FACTS
| Price | $1,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $216,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.28% | Building Size | 4,704 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1892 |
| Property Subtype | Apartment | ||
| Zoning | RS-3 - Residential single-unit district | ||
| Price | $1,300,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 4,704 SF |
| No. Stories | 3 |
| Year Built | 1892 |
| Zoning | RS-3 - Residential single-unit district |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | 784 |
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (80)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 17-08-125-011-0000 | Improvements Assessment | $99,679 |
| Land Assessment | $21,814 | Total Assessment | $121,493 |
PROPERTY TAXES
Parcel Number
17-08-125-011-0000
Land Assessment
$21,814
Improvements Assessment
$99,679
Total Assessment
$121,493
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Peter Drossos Real Estate
1303 W Ohio St
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