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6361 W Addison St 9 Unit Apartment Building $1,095,000 ($121,667/Unit) 5.27% Cap Rate Chicago, IL 60634
INVESTMENT HIGHLIGHTS
- Corner Lot
- 6 Rear Surface Parking Spaces
- Building-Owned Common Area Laundry
EXECUTIVE SUMMARY
6361 W. Addison is a 9-unit multifamily asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Portage Park neighborhood. The building features six residential units, consisting of seven 1-bedroom apartments and two 2-bedroom apartments, offering an efficient and desirable mix for this family-oriented Northwest Side submarket. Built in 1965 with 7,000 rentable square feet, the property includes a solid masonry exterior, building-owned common area laundry, and six rear surface parking spaces, supporting both tenant convenience and operational income. Well-positioned along the Addison corridor near local retail, parks, schools, and major transit routes, the asset provides stable in-place cash flow with additional value-add potential through increasing below-market rents and interior updates. RT-4 Zoning.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$112,680
|
$16.38
|
| Other Income |
$5,820
|
$0.85
|
| Vacancy Loss |
$5,925
|
$0.86
|
| Effective Gross Income |
$112,575
|
$16.36
|
| Taxes |
$11,657
|
$1.69
|
| Operating Expenses |
$43,204
|
$6.28
|
| Total Expenses |
$54,861
|
$7.97
|
| Net Operating Income |
$57,714
|
$8.39
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $112,680 |
| Annual Per SF | $16.38 |
| Other Income | |
|---|---|
| Annual | $5,820 |
| Annual Per SF | $0.85 |
| Vacancy Loss | |
|---|---|
| Annual | $5,925 |
| Annual Per SF | $0.86 |
| Effective Gross Income | |
|---|---|
| Annual | $112,575 |
| Annual Per SF | $16.36 |
| Taxes | |
|---|---|
| Annual | $11,657 |
| Annual Per SF | $1.69 |
| Operating Expenses | |
|---|---|
| Annual | $43,204 |
| Annual Per SF | $6.28 |
| Total Expenses | |
|---|---|
| Annual | $54,861 |
| Annual Per SF | $7.97 |
| Net Operating Income | |
|---|---|
| Annual | $57,714 |
| Annual Per SF | $8.39 |
PROPERTY FACTS
| Price | $1,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $121,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.27% | Building Size | 6,880 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 78% |
| Gross Rent Multiplier | 9.24 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1965 |
| Property Type | Multifamily | Parking Ratio | 0.87/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RT-4 - RT-4 Zoning | ||
| Price | $1,095,000 |
| Price Per Unit | $121,667 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 9.24 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,880 SF |
| Average Occupancy | 78% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.87/1,000 SF |
| Zoning | RT-4 - RT-4 Zoning |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 750 |
| 2+1 | 2 | - | 850 |
1 1
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 13-20-300-034-0000 | Total Assessment | $58,001 |
| Land Assessment | $23,048 | Annual Taxes | $11,657 ($1.69/SF) |
| Improvements Assessment | $34,953 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
13-20-300-034-0000
Land Assessment
$23,048
Improvements Assessment
$34,953
Total Assessment
$58,001
Annual Taxes
$11,657 ($1.69/SF)
Tax Year
2024
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6361 W Addison St
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