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3548 W 13th Pl 6 Unit Apartment Building $825,000 ($137,500/Unit) 13.41% Cap Rate Chicago, IL 60623
Investment Highlights
- 8 Min drive from the Medical District
- All units updated in 2025 and 2026
- Washer and Dryer in each Unit
Executive Summary
This 6-unit multifamily property, featuring 2 additional Garden units prepared with gas, electric, and plumbing, is ready to accommodate 2 additional units. It is located just 8 minutes from the Medical District, offering an exceptional investment opportunity in the vibrant North Lawndale neighborhood. Built in 1901, this Class C property generates immediate cash flow and offers value-add potential, benefiting from its prime location within both an Opportunity Zone and Enterprise Zone 1, which provides substantial tax incentives for investors. This property features three 3-bedroom, 1-bathroom units and three 2-bedroom, 1-bathroom units, all with In-Unit washers and dryers, catering to families and working professionals. This desirable unit mix ensures stable occupancy in a market undergoing revitalization and economic growth. Completely renovated all units. Refinished the Roof in August 2025. The property benefits from its proximity to transportation, schools, and amenities, ensuring strong tenant demand and long-term growth opportunities.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
|
-
|
| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
|
-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $825,000 | Apartment Style | Low-Rise |
| Price Per Unit | $137,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 13.41% | Building Size | 6,219 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 67% |
| Gross Rent Multiplier | 6.6 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1901 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | 10 | ||
| Price | $825,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| Cap Rate | 13.41% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 6.6 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 6,219 SF |
| Average Occupancy | 67% |
| No. Stories | 3 |
| Year Built | 1901 |
| Opportunity Zone |
Yes |
| Zoning | 10 |
Amenities
Unit Amenities
- Cable Ready
- Washer/Dryer
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Yard
- Dining Room
- Instant Hot Water
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,600 | 1,036 |
| 3+1 | 3 | $1,875 | 1,036 |
1 1
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 16-23-202-022-0000 | Improvements Assessment | $37,563 |
| Land Assessment | $5,617 | Total Assessment | $43,180 |
Property Taxes
Parcel Number
16-23-202-022-0000
Land Assessment
$5,617
Improvements Assessment
$37,563
Total Assessment
$43,180
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Presented by
CEA Property Management
3548 W 13th Pl
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