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5236-38 W Diversey Ave 9 Unit Apartment Building $1,100,000 ($122,222/Unit) 6.68% Cap Rate Chicago, IL 60639
Investment Highlights
- 6 Surface Parking Spots in Rear
Executive Summary
5236 W. Diversey is a 9-unit multifamily asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Belmont Cragin neighborhood. The building features nine residential units, consisting of eight 2-bedroom apartments and one 1-bedroom unit, providing an attractive and functional mix for renters in this high-demand submarket. Built in 1967 and offering 6,400 rentable square feet, the property includes rear surface parking and a straightforward, efficient layout typical of mid-century Chicago multifamily stock. Positioned along the Diversey corridor near extensive retail, dining, and transit options, the asset offers reliable income with additional potential through modernization.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$128,400
|
$15.64
|
| Other Income |
$4,500
|
$0.55
|
| Vacancy Loss |
$6,645
|
$0.81
|
| Effective Gross Income |
$126,255
|
$15.38
|
| Taxes |
$11,432
|
$1.39
|
| Operating Expenses |
$41,348
|
$5.04
|
| Total Expenses |
$52,780
|
$6.43
|
| Net Operating Income |
$73,475
|
$8.95
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $128,400 |
| Annual Per SF | $15.64 |
| Other Income | |
|---|---|
| Annual | $4,500 |
| Annual Per SF | $0.55 |
| Vacancy Loss | |
|---|---|
| Annual | $6,645 |
| Annual Per SF | $0.81 |
| Effective Gross Income | |
|---|---|
| Annual | $126,255 |
| Annual Per SF | $15.38 |
| Taxes | |
|---|---|
| Annual | $11,432 |
| Annual Per SF | $1.39 |
| Operating Expenses | |
|---|---|
| Annual | $41,348 |
| Annual Per SF | $5.04 |
| Total Expenses | |
|---|---|
| Annual | $52,780 |
| Annual Per SF | $6.43 |
| Net Operating Income | |
|---|---|
| Annual | $73,475 |
| Annual Per SF | $8.95 |
Property Facts
| Price | $1,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $122,222 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.68% | Building Size | 8,211 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 78% |
| Gross Rent Multiplier | 8.28 | No. Stories | 3 |
| No. Units | 9 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 0.73/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | B3-2 - B3-2 Zoning. | ||
| Price | $1,100,000 |
| Price Per Unit | $122,222 |
| Sale Type | Investment |
| Cap Rate | 6.68% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 8.28 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 8,211 SF |
| Average Occupancy | 78% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 0.73/1,000 SF |
| Zoning | B3-2 - B3-2 Zoning. |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 525 |
| 1+1 | 2 | - | 700 |
| 2+1 | 6 | - | 900 |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 13-28-131-043-0000 | Total Assessment | $56,900 (2025) |
| Land Assessment | $15,625 (2025) | Annual Taxes | $11,432 ($1.39/SF) |
| Improvements Assessment | $41,275 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
13-28-131-043-0000
Land Assessment
$15,625 (2025)
Improvements Assessment
$41,275 (2025)
Total Assessment
$56,900 (2025)
Annual Taxes
$11,432 ($1.39/SF)
Tax Year
2024
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5236-38 W Diversey Ave
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