3901 Haas Ave - Apartments FOR SALE


Lyons, IL 60534
$920,000 USD
773-305-4900
3901 Haas Ave, Lyons, IL for Sale
$920,000 USD
Apartments - FOR SALE
1/11
null | 6.72% Cap Rate

3901 Haas Ave
Lyons, IL 60534


HIGHLIGHTS

  • Fully Occupied Property in Desirable Lyons Location
  • Complete replacement of roof currently under construction
  • Eight (8) 1Bd/1Ba Units; 75% of the Units Have Been Renovated
  • Significant Rental Upside -15-20% in As-is Condition
  • High Demand Suburban Rental Market

OVERVIEW

Essex Realty Group, Inc. has been exclusively engaged to market for sale of 3901 Haas Avenue, an 8-unit apartment property located in the Cook County suburb of Lyons. The building consists of (8) 1Bd/1Ba units, seven surface parking spaces, and on-site coin laundry. Investors have the opportunity to acquire a fully occupied property in a highly desirable suburban location with immediate returns. In the current condition, there is a 15-20% upside in rents which will allow a potential investor to recognize a strong 7.51% cap rate once stabilized. In addition, the owner is currently doing a complete tear off of the roof which will be completed by the time of new ownership. The Subject Property is located 12 miles southwest of Downtown Chicago and 1 mile from the Riverside Metra station. The Property's convenient location offers residents easy access to public transportation and nearby shops and restaurants.

FOR SALE DETAILS

PRICE

$920,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

8

PRICE/UNIT

$115,000

CAP RATE

6.72%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,724 SF

ZONING

R-1A, County

APN/PARCEL ID

18-01-202-038-0000

ASK ABOUT THIS PROPERTY

Jimmy DonahueEssex Realty GroupMore Info
773-305-4900

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Jimmy DonahueEssex Realty GroupMore Info
773-305-4900

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