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Stabilized 6-Unit Multi Family Investment 8047 W Foster Ln 6 Unit Apartment Building $925,000 ($154,167/Unit) 5.27% Cap Rate Niles, IL 60714
Investment Highlights
- Family-Owned & Meticulously Maintained for over 43 years
- New Boiler Installed in 2024
- Value-Add Opportunity with below-market rents on select units
- 100% Occupied with stable rental income
Executive Summary
Well-maintained multifamily investment opportunity in desirable Niles, ideally situated at the end of a quiet cul-de-sac adjacent to a public park. The property is currently configured as six (6) one-bedroom, one-bath units and features approximately 8.5 off-street parking spaces, on-site coin laundry, tenant-paid electric, a new furnace installed in 2024, and a roof routinely seal-coated approximately every three years. Long-term ownership of over 43 years with strong rental history and potential rental upside.
IMPORTANT DISCLOSURE: Property was originally a five (5) unit building and is currently configured/operated as six (6) units. Seller and listing broker make no representation regarding the legality or permitted status of the sixth unit. Buyer must perform their own due diligence with the Village of Niles regarding zoning, use, occupancy, number of legal units, and code compliance.
IMPORTANT DISCLOSURE: Property was originally a five (5) unit building and is currently configured/operated as six (6) units. Seller and listing broker make no representation regarding the legality or permitted status of the sixth unit. Buyer must perform their own due diligence with the Village of Niles regarding zoning, use, occupancy, number of legal units, and code compliance.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $925,000 | Apartment Style | Low-Rise |
| Price Per Unit | $154,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.27% | Building Size | 4,029 SF |
| Gross Rent Multiplier | 11.54 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | R-4 | ||
| Price | $925,000 |
| Price Per Unit | $154,167 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| Gross Rent Multiplier | 11.54 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 4,029 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | R-4 |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Den
- Family Room
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Basketball Court
- Bicycle Storage
- Private Bathroom
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,048 | 600 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 09-14-201-029-0000 | Total Assessment | $82,000 (2025) |
| Land Assessment | $12,304 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $69,696 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
09-14-201-029-0000
Land Assessment
$12,304 (2025)
Improvements Assessment
$69,696 (2025)
Total Assessment
$82,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Stabilized 6-Unit Multi Family Investment | 8047 W Foster Ln