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3548 W 15th St 20 Unit Apartment Building $1,750,000 ($87,500/Unit) 9.30% Cap Rate Chicago, IL 60623
INVESTMENT HIGHLIGHTS
- EXCEPTIONAL IN-PLACE RETURNS: 9.30% Cap 15.62% Cash-on-Cash Return
- RECENT RENOVATIONS: Current ownership invested more than $400,000 into renovating units and improving mechanical systems.
- VALUE ADD POTENTIAL: Annual gross rental income more than $66,000 below market.
- STRONG LOCATION: Situated less than five miles from Chicago’s Loop, the property offers convenient access to downtown via public transit and highways
PROPERTY FACTS
| Price | $1,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $87,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 9.30% | Building Size | 16,000 SF |
| Gross Rent Multiplier | 6.6 | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1909 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4, Chicago - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $1,750,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 9.30% |
| Gross Rent Multiplier | 6.6 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 16,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1909 |
| Opportunity Zone |
Yes |
| Zoning | RT-4, Chicago - Residential Two-Flat, Townhouse and Multi-Unit District |
AMENITIES
UNIT AMENITIES
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Yard
- Dining Room
- Intercom
- Porch
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 600 |
| 2+1 | 13 | - | 700 |
1 1
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 16-23-214-014-0000 | Improvements Assessment | $95,500 |
| Land Assessment | $8,700 | Total Assessment | $104,200 |
PROPERTY TAXES
Parcel Number
16-23-214-014-0000
Land Assessment
$8,700
Improvements Assessment
$95,500
Total Assessment
$104,200
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3548 W 15th St
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