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4423 N Central Ave 5 Unit Apartment Building $900,000 ($180,000/Unit) Chicago, IL 60630
Investment Highlights
- Value-add opportunity
- Offers excellent transit connectivity via the Metra Union Pacific Northwest Line and the Blue Line.
Executive Summary
Leases are M2M (bar - Jul 27). Leases present ability to accelerate unit upgrade timelines, can increase NOI (from $53K to 103K). CSSI cost segregation study; up to $200K in tax deductions.
Cash flows day 1. Room to negotiate to increase/accelerate day 1 cash flow - get closer to debt service coverage ratio. Great value add play - Chi multifamily supply constrained transit corridor!
Step into day-one profitability with a 'take key, make money' asset that generates immediate annual cash flow while you plan your value-add upgrades..
Cash flows day 1. Room to negotiate to increase/accelerate day 1 cash flow - get closer to debt service coverage ratio. Great value add play - Chi multifamily supply constrained transit corridor!
Step into day-one profitability with a 'take key, make money' asset that generates immediate annual cash flow while you plan your value-add upgrades..
Property Facts
| Price | $900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $180,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| No. Units | 5 | Building Size | 5,969 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1929 |
| Price | $900,000 |
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,969 SF |
| No. Stories | 2 |
| Year Built | 1929 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+1 | 1 | - | - |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 13-16-127-001-0000 | Improvements Assessment | $49,053 |
| Land Assessment | $20,948 | Total Assessment | $70,001 |
Property Taxes
Parcel Number
13-16-127-001-0000
Land Assessment
$20,948
Improvements Assessment
$49,053
Total Assessment
$70,001
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4423 N Central Ave
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