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4131 S Michigan Ave
Chicago, IL 60653
Multifamily Property For Sale
·
6 Units
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
Property Facts
| No. Units | 6 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 7,934 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1887/2015 |
| Building Class | C | ||
| Zoning | RM-5 - Medium to high-density apartment buildings | ||
| 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 |
| 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 | - | - |
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
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