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4929 W Warwick Ave 5 Unit Apartment Building $750,000 ($150,000/Unit) 4.40% Cap Rate Chicago, IL 60641
Investment Highlights
- Building-Owned Common Area Laundry
- 2-Unit Coach House
Executive Summary
4929 W. Warwick is a 5-unit multi-family asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Portage Park neighborhood. The property features five residential units between the front building and coach house, consisting of one 1-bedroom apartments, two 2-bedroom apartments, and two 3-bedroom apartments, providing a practical and easy-to-rent mix in a stable, demand-driven submarket. Built in 1921 with 3,900 rentable square feet, the building offers a classic Chicago brick façade, building-owned common area laundry, and a coach house containing two of the five units. Positioned on a quiet residential block near parks, schools, retail, and major transit corridors, the property presents a reliable income stream with additional upside available through interior modernization and cosmetic upgrades.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$73,800
|
$17.73
|
| Other Income |
$600
|
$0.14
|
| Vacancy Loss |
$3,720
|
$0.89
|
| Effective Gross Income |
$70,680
|
$16.98
|
| Taxes |
$14,802
|
$3.56
|
| Operating Expenses |
$22,909
|
$5.50
|
| Total Expenses |
$37,711
|
$9.06
|
| Net Operating Income |
$32,969
|
$7.92
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $73,800 |
| Annual Per SF | $17.73 |
| Other Income | |
|---|---|
| Annual | $600 |
| Annual Per SF | $0.14 |
| Vacancy Loss | |
|---|---|
| Annual | $3,720 |
| Annual Per SF | $0.89 |
| Effective Gross Income | |
|---|---|
| Annual | $70,680 |
| Annual Per SF | $16.98 |
| Taxes | |
|---|---|
| Annual | $14,802 |
| Annual Per SF | $3.56 |
| Operating Expenses | |
|---|---|
| Annual | $22,909 |
| Annual Per SF | $5.50 |
| Total Expenses | |
|---|---|
| Annual | $37,711 |
| Annual Per SF | $9.06 |
| Net Operating Income | |
|---|---|
| Annual | $32,969 |
| Annual Per SF | $7.92 |
Property Facts
| Price | $750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $150,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 4.40% | Building Size | 4,163 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.08 | No. Stories | 3 |
| No. Units | 5 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 0.24/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RS-3 - RS-3 Zoning | ||
| Price | $750,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 4.40% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 10.08 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,163 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1921 |
| Parking Ratio | 0.24/1,000 SF |
| Zoning | RS-3 - RS-3 Zoning |
Amenities
Unit Amenities
- Ceiling Fans
- Hardwood Floors
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 650 |
| 2+1 | 3 | - | 600 - 1,100 |
| 3+1 | 1 | - | 1,100 |
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Walk Score®
Very Walkable (80)
Property Taxes
| Parcel Number | 13-21-222-009-0000 | Total Assessment | $73,650 |
| Land Assessment | $19,530 | Annual Taxes | $14,802 ($3.56/SF) |
| Improvements Assessment | $54,120 | Tax Year | 2025 |
Property Taxes
Parcel Number
13-21-222-009-0000
Land Assessment
$19,530
Improvements Assessment
$54,120
Total Assessment
$73,650
Annual Taxes
$14,802 ($3.56/SF)
Tax Year
2025
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4929 W Warwick Ave
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