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3501 W Palmer St 4 Unit Apartment Building $779,000 ($194,750/Unit) 8.07% Cap Rate Chicago, IL 60647
INVESTMENT HIGHLIGHTS
- Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place.
- All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.
EXECUTIVE SUMMARY
Introducing an exceptional investment opportunity located in the vibrant city of Chicago. This multifamily property features a 3,200 square foot low-rise garden-style building consisting of 4 units, each offering a combination of modern comfort and functionality. With its well-designed layout and attractive features, this property presents a lucrative opportunity for multifamily investors seeking a prime asset in a high-demand rental market. The strategic location and desirable architectural style make this property an enticing prospect for investors looking to expand their portfolio with a profitable asset with strong cash flow.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $779,000 | Apartment Style | Low-Rise |
| Price Per Unit | $194,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 8.07% | Building Size | 3,120 SF |
| Gross Rent Multiplier | 9.17 | No. Stories | 3 |
| No. Units | 4 | Year Built | 1897 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment |
| Price | $779,000 |
| Price Per Unit | $194,750 |
| Sale Type | Investment |
| Cap Rate | 8.07% |
| Gross Rent Multiplier | 9.17 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,120 SF |
| No. Stories | 3 |
| Year Built | 1897 |
| Parking Ratio | 1/1,000 SF |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Refrigerator
- Basement
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,700 | 650 |
| 2+1 | 2 | $1,850 | 675 |
| 4+1 | 1 | $2,650 | 1,200 |
1 1
Walk Score®
Very Walkable (82)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 13-35-219-015-0000 | Total Assessment | $43,522 (2024) |
| Land Assessment | $11,292 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $32,230 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
13-35-219-015-0000
Land Assessment
$11,292 (2024)
Improvements Assessment
$32,230 (2024)
Total Assessment
$43,522 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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3501 W Palmer St
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