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4936 Greenwood St 6 Unit Apartment Building $1,725,000 ($287,500/Unit) 6.27% Cap Rate Skokie, IL 60077
Executive Summary
- The Only 6-Unit Multifamily Asset Currently Available in Skokie offering investors a rare opportunity to acquire a well-positioned building in a highly desirable submarket.
- Unique Unit Mix Featuring 14 Total Bedrooms, allowing for stronger rental income potential compared to typical multifamily properties in the area.
- Highly Desirable Corner Location providing abundant natural light throughout all units and enhancing tenant appeal.
- Exceptionally Well-Maintained Property, with mostly updated units and clean, professionally maintained common areas that minimize near-term capital expenditures.
- Excellent Value-Add Opportunity, with rents positioned below market and a clear path to increase income based on current market conditions and comparable in-house leasing data.
- Strong Upside Potential through strategic rent growth while benefiting from the property’s attractive unit configuration and sought-after Skokie location.
- Unique Unit Mix Featuring 14 Total Bedrooms, allowing for stronger rental income potential compared to typical multifamily properties in the area.
- Highly Desirable Corner Location providing abundant natural light throughout all units and enhancing tenant appeal.
- Exceptionally Well-Maintained Property, with mostly updated units and clean, professionally maintained common areas that minimize near-term capital expenditures.
- Excellent Value-Add Opportunity, with rents positioned below market and a clear path to increase income based on current market conditions and comparable in-house leasing data.
- Strong Upside Potential through strategic rent growth while benefiting from the property’s attractive unit configuration and sought-after Skokie location.
Property Facts
| Price | $1,725,000 | Apartment Style | Low-Rise |
| Price Per Unit | $287,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.27% | Building Size | 7,227 SF |
| Gross Rent Multiplier | 11.86 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1955 |
| Property Type | Multifamily | Parking Ratio | 0.69/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4 | ||
| Price | $1,725,000 |
| Price Per Unit | $287,500 |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| Gross Rent Multiplier | 11.86 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 7,227 SF |
| No. Stories | 3 |
| Year Built | 1955 |
| Parking Ratio | 0.69/1,000 SF |
| Zoning | R4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 3+1 | 4 | - | 1,200 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $63,132 | |
| Land Assessment | $8,734 | Total Assessment | $71,866 |
Property Taxes
Parcel Numbers
Land Assessment
$8,734
Improvements Assessment
$63,132
Total Assessment
$71,866
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4936 Greenwood St