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6229-31 W Belmont Ave 6 Unit Apartment Building $899,000 ($149,833/Unit) 5.76% Cap Rate Chicago, IL 60634
INVESTMENT HIGHLIGHTS
- 6 Rear Surface Parking Spaces
EXECUTIVE SUMMARY
6229-31 W. Belmont is a 6-unit multifamily asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Belmont Cragin neighborhood. The building features six residential units, consisting of two 1-bedroom apartments and four 2-bedroom apartments, offering a desirable and efficient unit mix for this renter-driven corridor. Built in 1959 with 4,900 rentable square feet, the property includes 6 rear surface parking spaces and features a clean, functional layout supported by tenant-paid electric and cooking gas and a building-owned laundry setup. Positioned along the active Belmont Avenue commercial strip, the asset benefits from strong neighborhood amenities, public transit access, and consistent rental demand, making it a compelling opportunity for investors seeking stable cash flow with operational upside.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$89,400
|
$16.71
|
| Other Income |
$5,700
|
$1.07
|
| Vacancy Loss |
$4,755
|
$0.89
|
| Effective Gross Income |
$90,345
|
$16.89
|
| Taxes |
$13,218
|
$2.47
|
| Operating Expenses |
$25,388
|
$4.75
|
| Total Expenses |
$38,606
|
$7.22
|
| Net Operating Income |
$51,739
|
$9.67
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $89,400 |
| Annual Per SF | $16.71 |
| Other Income | |
|---|---|
| Annual | $5,700 |
| Annual Per SF | $1.07 |
| Vacancy Loss | |
|---|---|
| Annual | $4,755 |
| Annual Per SF | $0.89 |
| Effective Gross Income | |
|---|---|
| Annual | $90,345 |
| Annual Per SF | $16.89 |
| Taxes | |
|---|---|
| Annual | $13,218 |
| Annual Per SF | $2.47 |
| Operating Expenses | |
|---|---|
| Annual | $25,388 |
| Annual Per SF | $4.75 |
| Total Expenses | |
|---|---|
| Annual | $38,606 |
| Annual Per SF | $7.22 |
| Net Operating Income | |
|---|---|
| Annual | $51,739 |
| Annual Per SF | $9.67 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 700 |
| 2+1 | 4 | - | 850 - 900 |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $65,765 (2025) | |
| Land Assessment | $19,530 (2025) | Annual Taxes | $13,218 ($2.47/SF) |
| Improvements Assessment | $46,235 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$19,530 (2025)
Improvements Assessment
$46,235 (2025)
Total Assessment
$65,765 (2025)
Annual Taxes
$13,218 ($2.47/SF)
Tax Year
2024
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6229-31 W Belmont Ave
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