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460 W 28th Pl 6 Unit Apartment Building $1,299,000 ($216,500/Unit) 6.97% Cap Rate Chicago, IL 60616
Investment Highlights
- Brick Building
- Short Walk to CTA Orange & Red Lines
- Modern Updates On-site
- Easy access to Expressways
- Garage Parking
- Laundry HVAC in All Units
Executive Summary
This well-maintained brick 6-unit building presents a compelling investment opportunity featuring a desirable unit mix of two (2) 2-bedroom / 2-bath apartments, two (2) 2 Bedroom/1 -Bath Units and two (2) 1-bedroom / 1-bath units. The property offers apartment-quality updates throughout, including modern kitchens and baths, stainless steel appliances, and contemporary range hoods that appeal to today’s renters. Interiors are thoughtfully improved while maintaining operational efficiency, creating strong in-place tenancy and long-term rental stability.
The building includes shared laundry facilities in the rear lower level, offering free on-site laundry as a valuable tenant amenity, along with bundled utilities including water, sewer, trash, and Wi-Fi to simplify management and enhance leasing appeal. A two-car garage provides additional income potential and convenience for residents. With its solid brick construction, updated interiors, and tenant-friendly amenities, this asset delivers a balanced combination of durability, modern finishes, and steady cash flow potential.
The building includes shared laundry facilities in the rear lower level, offering free on-site laundry as a valuable tenant amenity, along with bundled utilities including water, sewer, trash, and Wi-Fi to simplify management and enhance leasing appeal. A two-car garage provides additional income potential and convenience for residents. With its solid brick construction, updated interiors, and tenant-friendly amenities, this asset delivers a balanced combination of durability, modern finishes, and steady cash flow potential.
Property Facts
| Price | $1,299,000 | Apartment Style | Low-Rise |
| Price Per Unit | $216,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.97% | Building Size | 3,960 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1900 |
| Zoning | RS-3 - Residential Single-Unit District | ||
| Price | $1,299,000 |
| Price Per Unit | $216,500 |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,960 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | RS-3 - Residential Single-Unit District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 2+2 | 2 | - | - |
| 1+1 | 2 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 17-28-314-025-0000 | Improvements Assessment | $45,969 |
| Land Assessment | $17,031 | Total Assessment | $63,000 |
Property Taxes
Parcel Number
17-28-314-025-0000
Land Assessment
$17,031
Improvements Assessment
$45,969
Total Assessment
$63,000
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