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4522 S Calumet Ave
Chicago, IL 60653
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Full Renovation in 2014 (Major Systems Already Updated)
- Strong Bronzeville Location with Continued Development
- Clear Value-Add Opportunity Through Rent Growth
Executive Summary
Investor opportunity in Bronzeville. Solid 6-unit brick apartment building featuring two 3BD/1.5BA units and four 2BD/1BA units, totaling approximately 6,600 SF on a 6,000 SF lot. The property was fully renovated with permits in 2014, including updated plumbing, electrical, porches, masonry, and interior finishes.
Currently, fully-occupied with strong in-place income and clear value-add potential through cosmetic upgrades and rent growth. Individual heating systems and hot water tanks per unit plus 3 on-site parking spaces.
Prime Bronzeville location near CTA Green & Red Lines, I-90, Illinois Institute of Technology, and the University of Chicago. Strong tenant demand in a neighborhood seeing continued residential and commercial development.
Currently, fully-occupied with strong in-place income and clear value-add potential through cosmetic upgrades and rent growth. Individual heating systems and hot water tanks per unit plus 3 on-site parking spaces.
Prime Bronzeville location near CTA Green & Red Lines, I-90, Illinois Institute of Technology, and the University of Chicago. Strong tenant demand in a neighborhood seeing continued residential and commercial development.
Property Facts
| Price Per Unit | $165,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.98% | Building Size | 7,200 SF |
| Gross Rent Multiplier | 8.98 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1877/2014 |
| Property Subtype | Apartment | Parking Ratio | 0.41/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MULTI | ||
| Price Per Unit | $165,833 |
| Sale Type | Investment |
| Cap Rate | 6.98% |
| Gross Rent Multiplier | 8.98 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 7,200 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1877/2014 |
| Parking Ratio | 0.41/1,000 SF |
| Zoning | MULTI |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Eat-in Kitchen
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 3+2 | 2 | - | - |
Property Taxes
| Parcel Number | 20-03-316-028-0000 | Improvements Assessment | $46,619 |
| Land Assessment | $16,447 | Total Assessment | $63,066 |
Property Taxes
Parcel Number
20-03-316-028-0000
Land Assessment
$16,447
Improvements Assessment
$46,619
Total Assessment
$63,066
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