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3457 N Ridgeway Ave 8 Unit Apartment Building $1,200,000 ($150,000/Unit) 6.50% Cap Rate Chicago, IL 60618
Investment Highlights
- Value-Add 8-Unit Deal
- Desirable Avondale Neighborhood - Supply-Constrained Market
- 1 Bed / 1 Bath Units with Spacious Layouts
- 0.3 Miles from Addison Blue Line Station; 0.8 Miles from Irving Park Metra Station
Executive Summary
Kiser Group is pleased to present 3457 N. Ridgeway Ave, a value-add 8-unit apartment building located in Avondale on Chicago’s Northwest Side. The Property consists entirely of eight (8) 1Bd/1Ba units, all featuring spacious layouts with typically dated interior finishes, offering a clear opportunity for unit modernization and rent growth.
The building is heated by a boiler system and serviced by one newer hot water tank for all tenants. Building plumbing is made up of a mix of copper and galvanized. Additionally, the property benefits from an on-site laundry facility, providing an added amenity and supplemental income stream.
3457 N. Ridgeway Ave presents investors with a compelling value-add opportunity. Through unit renovations, targeted mechanical upgrades, and improved management, a new owner can enhance operational efficiency and achieve higher returns upon stabilization
The building is heated by a boiler system and serviced by one newer hot water tank for all tenants. Building plumbing is made up of a mix of copper and galvanized. Additionally, the property benefits from an on-site laundry facility, providing an added amenity and supplemental income stream.
3457 N. Ridgeway Ave presents investors with a compelling value-add opportunity. Through unit renovations, targeted mechanical upgrades, and improved management, a new owner can enhance operational efficiency and achieve higher returns upon stabilization
Property Facts Under Contract
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $150,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.50% | Building Size | 6,500 SF |
| No. Units | 8 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1926 |
| Zoning | R3, Chicago | ||
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 6,500 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1926 |
| Zoning | R3, Chicago |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 650 |
1 1
Walk Score®
Very Walkable (82)
Transit Score®
Excellent Transit (75)
Property Taxes
| Parcel Number | 13-23-314-001-0000 | Improvements Assessment | $72,441 |
| Land Assessment | $22,359 | Total Assessment | $94,800 |
Property Taxes
Parcel Number
13-23-314-001-0000
Land Assessment
$22,359
Improvements Assessment
$72,441
Total Assessment
$94,800
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3457 N Ridgeway Ave
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