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3631 147th St 6 Unit Apartment Building $660,000 ($110,000/Unit) 7.82% Cap Rate Midlothian, IL 60445
Investment Highlights
- 100+ Applications Received When Units Become Available
Executive Summary
Fantastic Investment Opportunity with Value-Add Potential! Discover this well-maintained 6-unit all-brick building offering strong cash flow and excellent value-add potential! The property features five occupied 2-bed/1-bath units and one vacant 1-bed/1-bath unit, providing a perfect opportunity for renovations, and owner-occupant option. Tenants enjoy the convenience of rear parking, with additional spaces available in the front, ensuring ample accommodation for all. Situated in a highly desirable area, the building is just minutes from the Metra station, shopping centers, restaurants, and everyday conveniences. This is a prime location with proven income and room to grow
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Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$94,500
|
$21.72
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,725
|
$1.09
|
| Effective Gross Income |
$89,775
|
$20.64
|
| Taxes |
$16,368
|
$3.76
|
| Operating Expenses |
$22,092
|
$5.08
|
| Total Expenses |
$38,460
|
$8.84
|
| Net Operating Income |
$51,315
|
$11.80
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $94,500 |
| Annual Per SF | $21.72 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,725 |
| Annual Per SF | $1.09 |
| Effective Gross Income | |
|---|---|
| Annual | $89,775 |
| Annual Per SF | $20.64 |
| Taxes | |
|---|---|
| Annual | $16,368 |
| Annual Per SF | $3.76 |
| Operating Expenses | |
|---|---|
| Annual | $22,092 |
| Annual Per SF | $5.08 |
| Total Expenses | |
|---|---|
| Annual | $38,460 |
| Annual Per SF | $8.84 |
| Net Operating Income | |
|---|---|
| Annual | $51,315 |
| Annual Per SF | $11.80 |
Property Facts
| Price | $660,000 | Apartment Style | Low-Rise |
| Price Per Unit | $110,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.82% | Building Size | 4,350 SF |
| No. Units | 6 | Average Occupancy | 84% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1963 |
| Price | $660,000 |
| Price Per Unit | $110,000 |
| Sale Type | Investment |
| Cap Rate | 7.82% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,350 SF |
| Average Occupancy | 84% |
| No. Stories | 3 |
| Year Built | 1963 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,100 | 600 - 700 |
| 2+1 | 5 | $1,363 | 750 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 28-11-305-025-0000 | Total Assessment | $37,000 (2025) |
| Land Assessment | $2,285 (2025) | Annual Taxes | $16,368 ($3.76/SF) |
| Improvements Assessment | $34,715 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
28-11-305-025-0000
Land Assessment
$2,285 (2025)
Improvements Assessment
$34,715 (2025)
Total Assessment
$37,000 (2025)
Annual Taxes
$16,368 ($3.76/SF)
Tax Year
2026
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3631 147th St
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