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4317 S Michigan Ave 12 Unit Apartment Building $1,595,000 ($132,917/Unit) 9.40% Cap Rate Chicago, IL 60653
INVESTMENT HIGHLIGHTS
- Professional Offering Memorandum Available Upon Request
- Stabilized, Cash-Flowing Asset with Strong History of High Occupancy and Collections
- Within Two Blocks of CTA Green Line 43rd St Stop and Access to I-90
- Favorable Mix of [6] 1BD/1BA and [6] 2BD/1BA Units
- Opportunity for Investor to Add Value by Increasing Currently Below Market Rents
- Located in Desirable and Fast Appreciating Bronzeville Submarket
EXECUTIVE SUMMARY
Nara Advisors is pleased to exclusively market for sale 4317 S Michigan Ave, a 12-unit apartment building located in Chicago's Bronzeville neighborhood.
PROPERTY FACTS
| Price | $1,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $132,917 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 9.40% | Building Size | 8,050 SF |
| No. Units | 12 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1902 |
| Zoning | RM-5 - RM-5 | ||
| Price | $1,595,000 |
| Price Per Unit | $132,917 |
| Sale Type | Investment |
| Cap Rate | 9.40% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 8,050 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1902 |
| Zoning | RM-5 - RM-5 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 6 | - | - |
1 1
Walk Score®
Very Walkable (76)
Transit Score®
Excellent Transit (75)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 20-03-302-002-0000 | Improvements Assessment | $80,825 |
| Land Assessment | $28,175 | Total Assessment | $109,000 |
PROPERTY TAXES
Parcel Number
20-03-302-002-0000
Land Assessment
$28,175
Improvements Assessment
$80,825
Total Assessment
$109,000
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4317 S Michigan Ave
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