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7414-7416 W 63rd Pl 6 Unit Apartment Building $737,000 ($122,833/Unit) 12.78% Cap Rate Summit, IL 60501
Investment Highlights
- Recent property updates include newer roof, replacement windows, and a renovated full bath on the main level.
- Close proximity to Midway International Airport, regional commercial corridors, schools, and local community services.
- Positioned near major roadways such as Harlem Avenue and I-55, supporting excellent connectivity to the Chicago metro.
- Full leased with excellent financial performance.
Executive Summary
Introducing a remarkable multi-unit building in the heart of Summit. Offering a lucrative investment opportunity for savvy buyers. This fully leased six-unit property boasts a low vacancy rate, ensuring consistent cash flow and long-term stability. Enjoy immediate returns with all six units fully leased, creating a reliable income stream in a highly sought-after rental market. Experience peace of mind with a proven low vacancy rate, demonstrating strong tenant demand and satisfaction. The property features a robust cap rate, indicative of strong financial performance and an excellent investment potential. Significant renovations have been completed in 2023, including: A brand-new roof enhances the building's structural integrity and aesthetic appeal. Upgraded windows & doors to improve energy efficiency and contribute to tenant comfort. Enhancements to the garage, including new siding, door, and light fixtures, bolster both functionality and curb appeal. With its excellent financial performance, extensive upgrades, and prime location, this six-unit building in Summit, is a fantastic opportunity for investors seeking a well-performing asset with long-term growth potential. Don't miss your chance to capitalize on this exceptional listing!
Property Facts
| Price | $737,000 | Apartment Style | Low-Rise |
| Price Per Unit | $122,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 12.78% | Building Size | 6,033 SF |
| Gross Rent Multiplier | 7.84 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1962 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $737,000 |
| Price Per Unit | $122,833 |
| Sale Type | Investment |
| Cap Rate | 12.78% |
| Gross Rent Multiplier | 7.84 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,033 SF |
| No. Stories | 3 |
| Year Built | 1962 |
| Opportunity Zone |
Yes |
Amenities
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 1 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $43,468 | |
| Land Assessment | $4,532 | Total Assessment | $48,000 |
Property Taxes
Parcel Numbers
Land Assessment
$4,532
Improvements Assessment
$43,468
Total Assessment
$48,000
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Videos
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Photos
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Presented by
Century 21 New Beginnings
7414-7416 W 63rd Pl
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