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Roosevelt 38 5936 W Roosevelt Rd 38 Unit Apartment Building $2,550,000 ($67,105/Unit) 10.09% Cap Rate Chicago, IL 60644
Investment Highlights
- Rarely Available 38 Unit Building in The Island
- Newer Individual Furnaces & Hot Water Tanks
- Fourteen (14) 2Bd/1Ba, Fifteen (15) 1Bd/1Ba, Two (2) Studios, & Seven (7) Commercial Units
- New Porches (2024), Copper Plumbing, & Updated Electric
Executive Summary
Kiser Group is pleased to exclusively offer for purchase the sale of 5944 W. Roosevelt, a thirty-eight (38) unit mixed use property in Chicago’s West Side's most desirable pocket, "The Island". The properties sit just a few blocks from Chicago's Blue Line "El" train station at Austin as well as Columbus Park, which features ball fields, a theater, a pool & golf course.
5944 W. Roosevelt has a unit composition of fourteen (14) 2Bd/1Ba, fifteen (15) 1Bd/1Ba, two (2) studios, & seven (7) retail units. Furthermore, the building boasts newer windows, individual furnaces, individual hot water heaters, newer porches, copper plumbing, updated electric, and an abundance of masonry and tuckpointing work.
5944 W. Roosevelt & 1054 S. Mason provides an investor with a unique opportunity to acquire a stabilized and strong cashflowing asset in Chicago’s desirable pocket of The Island. From day one, a new owner will capitalize on an incredibly strong tenant base and will realize an in-place cap rate of 9.25% and a cash return of 14.26%. Through improved leasing, management, and raising rents to levels already being achieved in the area, an investor has the opportunity to achieve a cap rate of almost 13%.
5944 W. Roosevelt has a unit composition of fourteen (14) 2Bd/1Ba, fifteen (15) 1Bd/1Ba, two (2) studios, & seven (7) retail units. Furthermore, the building boasts newer windows, individual furnaces, individual hot water heaters, newer porches, copper plumbing, updated electric, and an abundance of masonry and tuckpointing work.
5944 W. Roosevelt & 1054 S. Mason provides an investor with a unique opportunity to acquire a stabilized and strong cashflowing asset in Chicago’s desirable pocket of The Island. From day one, a new owner will capitalize on an incredibly strong tenant base and will realize an in-place cap rate of 9.25% and a cash return of 14.26%. Through improved leasing, management, and raising rents to levels already being achieved in the area, an investor has the opportunity to achieve a cap rate of almost 13%.
Property Facts
| Price | $2,550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $67,105 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.56 AC |
| Cap Rate | 10.09% | Building Size | 38,850 SF |
| No. Units | 38 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | ||
| Zoning | B3-2 - General Business Zoning District | ||
| Price | $2,550,000 |
| Price Per Unit | $67,105 |
| Sale Type | Investment |
| Cap Rate | 10.09% |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 38,850 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Zoning | B3-2 - General Business Zoning District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Site Amenities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | 1,000 |
| Studios | 2 | - | 600 |
| 1+1 | 15 | - | 750 |
| 2+1 | 14 | - | 850 |
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Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-17-409-030-0000 | Improvements Assessment | $263,763 |
| Land Assessment | $21,837 | Total Assessment | $285,600 |
Property Taxes
Parcel Number
16-17-409-030-0000
Land Assessment
$21,837
Improvements Assessment
$263,763
Total Assessment
$285,600
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