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9-Unit Residential Apartment Building 437 Prairie Ave 9 Unit Apartment Building $750,000 ($83,333/Unit) 8.62% Cap Rate Calumet City, IL 60409
Investment Highlights
- Strong Rental Market
- Strong School District
- Value-Add Opportunity
- Convenient Suburban Location
Executive Summary
Horvath & Tremblay is pleased to present the opportunity to purchase the multi-family investment property located at 437-439 Prairie Avenue in Calumet City, Illinois (the “Property”). The Property is improved by a 3-story multi-family building that contains nine (9) rental units comprised of three (3), 1-Bedroom/1-Bathroom units and six (6), 2-Bedroom/1-Bathroom units with 8,000 square feet of living area in 9,000 square feet of gross area. The well-maintained brick apartment building was constructed in 1970 on a 0.22-acre parcel of land with ten (10) on-site parking spaces.
The property is located in Calumet City, Illinois which is a South Suburb of Chicago located along the border of Illinois and Indiana. The property has excellent access to IL Route 83 and Interstate 94 and is convenient to I-294, I-80, and US Routes 20, 41 and 6, as well as several Metra Stations. The quick highway and train access provides easy accessibility to both Chicago Metropolitan and Northwest Indiana and the surrounding areas.
The property is located in Calumet City, Illinois which is a South Suburb of Chicago located along the border of Illinois and Indiana. The property has excellent access to IL Route 83 and Interstate 94 and is convenient to I-294, I-80, and US Routes 20, 41 and 6, as well as several Metra Stations. The quick highway and train access provides easy accessibility to both Chicago Metropolitan and Northwest Indiana and the surrounding areas.
Property Facts
| Price | $750,000 | Building Class | C |
| Price Per Unit | $83,333 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 9,000 SF |
| Cap Rate | 8.62% | No. Stories | 3 |
| No. Units | 9 | Year Built | 1970 |
| Property Type | Multifamily | Parking Ratio | 1.11/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-6 | ||
| Price | $750,000 |
| Price Per Unit | $83,333 |
| Sale Type | Investment |
| Cap Rate | 8.62% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 9,000 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 1.11/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-6 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 6 | - | - |
1 1
Walk Score®
Very Walkable (73)
Property Taxes
| Parcel Numbers | Improvements Assessment | $36,832 | |
| Land Assessment | $4,182 | Total Assessment | $41,014 |
Property Taxes
Parcel Numbers
Land Assessment
$4,182
Improvements Assessment
$36,832
Total Assessment
$41,014
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9-Unit Residential Apartment Building | 437 Prairie Ave
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