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2435 S California Ave 6 Unit Apartment Building $1,100,000 ($183,333/Unit) 7% Cap Rate Chicago, IL 60608
Investment Highlights
- Approved for 2 additional units
- In unit laundry
- Corner lot
- Central A/C
Executive Summary
Large brick 6-unit overlooking California Boulevard. In place 7% CAP rate with rental upside. Plus potential to add 2 more garden units with existing city approved plans conveyed in price. Great corner building with 3 full floor units, plus a coach house with 3 additional units. The property was gut renovated in 2017 and still has a great value add opportunity through bringing rents to market. The modern units feature granite, hardwood, central forced air HVAC, dishwashers, in-unit W/D and spacious bedrooms and bathrooms. Long time professional property management is willing to stay in place making this a true turn key investment in a rapidly appreciating sub market.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$114,240
|
$18.35
|
| Other Income |
$2,000
|
$0.32
|
| Vacancy Loss |
$5,712
|
$0.92
|
| Effective Gross Income |
$110,528
|
$17.76
|
| Taxes |
$14,168
|
$2.28
|
| Operating Expenses |
$23,130
|
$3.72
|
| Total Expenses |
$37,298
|
$5.99
|
| Net Operating Income |
$73,230
|
$11.76
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $114,240 |
| Annual Per SF | $18.35 |
| Other Income | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $5,712 |
| Annual Per SF | $0.92 |
| Effective Gross Income | |
|---|---|
| Annual | $110,528 |
| Annual Per SF | $17.76 |
| Taxes | |
|---|---|
| Annual | $14,168 |
| Annual Per SF | $2.28 |
| Operating Expenses | |
|---|---|
| Annual | $23,130 |
| Annual Per SF | $3.72 |
| Total Expenses | |
|---|---|
| Annual | $37,298 |
| Annual Per SF | $5.99 |
| Net Operating Income | |
|---|---|
| Annual | $73,230 |
| Annual Per SF | $11.76 |
Property Facts
| Price | $1,100,000 | Apartment Style | Garden |
| Price Per Unit | $183,333 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 6,225 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.3 | No. Stories | 3 |
| No. Units | 6 | Year Built/Renovated | 1904/2017 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | RT-4 | ||
| Price | $1,100,000 |
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 10.3 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.07 AC |
| Building Size | 6,225 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1904/2017 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Porch
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,195 | 600 |
| 2+1 | 1 | $1,440 | 920 |
| 3+2 | 4 | $1,948 | 1,050 - 1,200 |
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Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 16-25-217-001-0000 | Total Assessment | $70,520 |
| Land Assessment | $4,220 | Annual Taxes | $14,168 ($2.28/SF) |
| Improvements Assessment | $66,300 | Tax Year | 2025 |
Property Taxes
Parcel Number
16-25-217-001-0000
Land Assessment
$4,220
Improvements Assessment
$66,300
Total Assessment
$70,520
Annual Taxes
$14,168 ($2.28/SF)
Tax Year
2025
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2435 S California Ave
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