2959 N Major Ave - Apartments FOR SALE


Chicago, IL 60634
$1,350,000 USD
773-293-5015
2959 N Major Ave, Chicago, IL for Sale
$1,350,000 USD
Apartments - FOR SALE
1/9
null | 6.18% Cap Rate

2959 N Major Ave
Chicago, IL 60634


HIGHLIGHTS

  • Meticulously Maintained
  • (12) One-Bed/One Bath Layouts
  • Updated Kitchens & Baths
  • Recent Cap Ex Completed: New Porches, Newer Boiler, Recent Tuckpointing & New Windows
  • (4) On-Site Garage Parking Spaces

OVERVIEW

Kiser Group has been exclusively engaged to market for sale 5647 W. Wellington, a 12-unit, a rare three-story walk-up located in the heart of Chicago's Belmont Cragin neighborhood. The property features (12) spacious 1-bedroom, 1-bathroom units and has been meticulously maintained by the current owner. Additionally, all the units have been cosmetically updated and contains modern kitchens and bathrooms. Recent capital improvements include a newer boiler with R&D controls, new water heater, recent tuckpointing, newer windows, copper plumbing (horizontals), and new porches. Furthermore, the building is equipped with four (4) on-site garage parking spots. 5647 W. Wellington presents an investor with a unique opportunity to acquire an already cash-flowing asset with an in-place cap rate of over 6.2% from day one. Additionally, through improved leasing, management, and raising rents to levels already being achieved in the building, a new investor can realize a cap rate of 7.43% and cash returns of nearly 8.5%.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

12

PRICE/UNIT

$112,500

CAP RATE

6.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,579 SF

ZONING

10

APN/PARCEL ID

13-29-222-001-0000

ASK ABOUT THIS PROPERTY

Danny LogarakisKiser GroupMore Info
773-293-5015

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Danny LogarakisKiser GroupMore Info
773-293-5015

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.