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1813 S Ashland Ave 5 Unit Apartment Building $1,200,000 ($240,000/Unit) Chicago, IL 60608
INVESTMENT HIGHLIGHTS
- New Retail Lease in Place
- Short Walk to CTA Pink Line
- Near UIC & Illinois Medical District
- In-Unit Laundry
- Easy Access to I-55, I-290 & I-90/94
- Renovated Units & Full Basement
EXECUTIVE SUMMARY
This fully renovated multifamily property presents a turn-key investment opportunity with 100% occupancy and strong in-place cash flow. The attractive brick building features modernized layouts with open floor plans, newly updated kitchens, and contemporary bathrooms, appealing to today’s renters seeking both style and functionality. The renovations enhance the property’s long-term durability while reducing near-term capital needs, offering investors peace of mind and stable operations from day one.
Adding to the upside, the property includes a vacant coach house located above the rear garage. This space is primed for renovation and conversion into an additional rental unit, providing a clear path for increased income and property value. With its blend of stabilized tenancy and future growth potential, this asset offers investors a rare opportunity to acquire a well-positioned property that combines immediate returns with long-term upside.
Adding to the upside, the property includes a vacant coach house located above the rear garage. This space is primed for renovation and conversion into an additional rental unit, providing a clear path for increased income and property value. With its blend of stabilized tenancy and future growth potential, this asset offers investors a rare opportunity to acquire a well-positioned property that combines immediate returns with long-term upside.
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $240,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| No. Units | 5 | Building Size | 5,904 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1893/2015 |
| Zoning | B3-2 - Commercial/Residential Building With Apartments | ||
| Price | $1,200,000 |
| Price Per Unit | $240,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 5,904 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1893/2015 |
| Zoning | B3-2 - Commercial/Residential Building With Apartments |
AMENITIES
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 17-20-308-006-0000 | Improvements Assessment | $58,900 |
| Land Assessment | $11,100 | Total Assessment | $70,000 |
PROPERTY TAXES
Parcel Number
17-20-308-006-0000
Land Assessment
$11,100
Improvements Assessment
$58,900
Total Assessment
$70,000
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1813 S Ashland Ave
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