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6215 N Washtenaw Ave 8 Unit Apartment Building $1,395,000 ($174,375/Unit) 7.74% Cap Rate Chicago, IL 60659
EXECUTIVE SUMMARY
Impressive 8-unit property, above grade 6 units and featuring two additional basement apartments for added income potential. Each of the six main units offers 2 bedrooms, a large living room, a separate dining area, and a partly enclosed back porch ideal for additional storage. The basement includes one 2-bedroom and one 1-bedroom apartment. Each unit has separate central heating, and there are 6 parking spaces for convenience. The property also features a newer porch and is located near shopping, parks, public transportation, and area amenities. Situated in the desirable West Ridge neighborhood, this solid multifamily building provides strong income and long-term stability - an excellent opportunity to expand your investment portfolio.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$142,800
|
$20.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,800
|
$20.74
|
| Taxes |
$16,048
|
$2.33
|
| Operating Expenses |
$18,802
|
$2.73
|
| Total Expenses |
$34,850
|
$5.06
|
| Net Operating Income |
$107,950
|
$15.68
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $142,800 |
| Annual Per SF | $20.74 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,800 |
| Annual Per SF | $20.74 |
| Taxes | |
|---|---|
| Annual | $16,048 |
| Annual Per SF | $2.33 |
| Operating Expenses | |
|---|---|
| Annual | $18,802 |
| Annual Per SF | $2.73 |
| Total Expenses | |
|---|---|
| Annual | $34,850 |
| Annual Per SF | $5.06 |
| Net Operating Income | |
|---|---|
| Annual | $107,950 |
| Annual Per SF | $15.68 |
PROPERTY FACTS
| Price | $1,395,000 | Building Class | C |
| Price Per Unit | $174,375 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 6,885 SF |
| Cap Rate | 7.74% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1924 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RT-4 | ||
| Price | $1,395,000 |
| Price Per Unit | $174,375 |
| Sale Type | Investment |
| Cap Rate | 7.74% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,885 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1924 |
| Parking Ratio | 0.87/1,000 SF |
| Zoning | RT-4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 9 | - | - |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 13-01-210-013-0000 | Total Assessment | $83,000 (2024) |
| Land Assessment | $22,892 (2024) | Annual Taxes | $16,048 ($2.33/SF) |
| Improvements Assessment | $60,108 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
13-01-210-013-0000
Land Assessment
$22,892 (2024)
Improvements Assessment
$60,108 (2024)
Total Assessment
$83,000 (2024)
Annual Taxes
$16,048 ($2.33/SF)
Tax Year
2025
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6215 N Washtenaw Ave
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