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2435 S California Ave
Chicago, IL 60608
Multifamily Property For Sale
·
6 Units
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.
Property Facts
| Price Per Unit | $183,333 | Apartment Style | Garden |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 7% | Building Size | 6,225 SF |
| Gross Rent Multiplier | 10.3 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1904/2017 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 | ||
| 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 |
Property Taxes
| Parcel Number | 16-25-217-001-0000 | Improvements Assessment | $66,300 |
| Land Assessment | $4,220 | Total Assessment | $70,520 |
Property Taxes
Parcel Number
16-25-217-001-0000
Land Assessment
$4,220
Improvements Assessment
$66,300
Total Assessment
$70,520
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