3851-53 N. Laramie | 5155 W. Byron 5155 W Byron St 7 Unit Apartment Building $1,250,000 ($178,571/Unit) Chicago, IL 60641

Triton presents 3851-53 N. Laramie Ave. | 5155 W. Byron St., a seven (7) unit multifamily investment opportunity located in Chicago's highly desirable Portage Park neighborhood. Offered for the first time in nearly four decades, this pride-of-ownership asset has been held by the same owner since July 1988. Throughout its extensive ownership history, the asset has received continuous stewardship and numerous capital improvements, providing a new owner with a path to maximize rents in existing condition.
The classic corner masonry brick building consists entirely of spacious two-bedroom, one-bathroom apartments—featuring one duplex unit and one garden unit. Units are equipped with updated finishes and stainless-steel appliances (select units), radiator heat, window A/C units, coin-operated common area laundry, and three rear garage parking spaces.
Boasting a straightforward utility profile with separately metered electric and cooking gas paid by tenants, the property delivers robust in-place income with a clear value-add pathway to a 7.85% pro forma cap rate by moving below-market rents to market levels. Positioned just blocks from the booming Six Corners intersection, this remarkably maintained property represents a rare, stable, long-term performance opportunity.