Log In/Sign Up
Your email has been sent.
4131 S Michigan Ave 6 Unit Apartment Building $860,000 ($143,333/Unit) 8.60% Cap Rate Chicago, IL 60653
INVESTMENT HIGHLIGHTS
- Property has a strong history of high occupancy and collections
- Within walking distance to the Sox-35th Redline stop
- [1] 1-Bed/1-Bath [5] 2-Bed/1-Bath
- Current cap rate of 8.0%, projected to increase to 8.7% on a stabilized basis
- Current rents below market with potential to increase to $1,375 for 1-bedroom units and $1,700 for 2-bedroom units
- The property is fully occupied, showcasing strong rental demand in the area
EXECUTIVE SUMMARY
Nara Advisors is pleased to exclusively market for sale 4131 S Michigan Ave, a 6-unit apartment building located in Chicago's Bronzeville neighborhood
PROPERTY FACTS
| Price | $860,000 | Apartment Style | Low-Rise |
| Price Per Unit | $143,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 8.60% | Building Size | 7,934 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1887/2015 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM-5 - Medium to high-density apartment buildings | ||
| Price | $860,000 |
| Price Per Unit | $143,333 |
| Sale Type | Investment |
| Cap Rate | 8.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,934 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1887/2015 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 - Medium to high-density apartment buildings |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (76)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 20-03-114-005-0000 | Improvements Assessment | $48,159 |
| Land Assessment | $28,175 | Total Assessment | $76,334 |
PROPERTY TAXES
Parcel Number
20-03-114-005-0000
Land Assessment
$28,175
Improvements Assessment
$48,159
Total Assessment
$76,334
1 of 8
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
4131 S Michigan Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.