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1333 W Flournoy St 5 Unit Apartment Building $1,200,000 ($240,000/Unit) 6% Cap Rate Chicago, IL 60607
Investment Highlights
- Strong University Village Location
- Laundry On-Site
- Individual Hot-water Heaters & Furnaces
- Value-Ad Opportunity
Executive Summary
The attached subject opportunity is a five-unit apartment building located in Chicago's University Village Neighborhood. The apartments feature a mix of finish levels but all have hardwood flooring, some have dishwashers, and all have individual furnaces and hot-water heaters. Additionally, there is common area laundry located in the basement of the property.
The attached subject building creates a unique opportunity for a new investor to step into a well-located asset in a low-velocity neighborhood with a large value-ad component. New ownership has the ability to rehab the apartments and push the rents significantly over time.
The attached subject building creates a unique opportunity for a new investor to step into a well-located asset in a low-velocity neighborhood with a large value-ad component. New ownership has the ability to rehab the apartments and push the rents significantly over time.
Property Facts Under Contract
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $240,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6% | Building Size | 4,700 SF |
| Gross Rent Multiplier | 10.3 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1884 |
| Property Subtype | Apartment |
| Price | $1,200,000 |
| Price Per Unit | $240,000 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 10.3 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 4,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1884 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Bay Window
- Attic
- Basement
Site Amenities
- 24 Hour Access
- Basketball Court
- Breakfast/Coffee Concierge
- Bicycle Storage
- Backup Power / Generators
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 4+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Excellent Transit (76)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 17-17-309-017-0000 | Improvements Assessment | $76,760 |
| Land Assessment | $16,240 | Total Assessment | $93,000 |
Property Taxes
Parcel Number
17-17-309-017-0000
Land Assessment
$16,240
Improvements Assessment
$76,760
Total Assessment
$93,000
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1333 W Flournoy St
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