414 S Elmwood Ave - Apartments FOR SALE


Oak Park, IL 60302
$1,450,000 USD
847-999-8818
414 S Elmwood Ave, Oak Park, IL for Sale
$1,450,000 USD
Apartments - FOR SALE
1/11
null | 7.56% Cap Rate

414 S Elmwood Ave
Oak Park, IL 60302


HIGHLIGHTS

  • Below market rents with a mix of vintage & rehabbed units
  • Individually metered electric with baseboard heating and wall-unit AC
  • Recent improvements include repairs to roof, boiler replacement, tuckpointing, painting to hallways and exterior window frames
  • 11 surface parking spaces with 2 visitor spaces
  • Close to I-290 and shopping and restuarants on Madison St
  • Next door to Julian Middle School

OVERVIEW

This opportunity presents a terrific opportunity to add value by bringing the consistency and efficiency of a single ownership group to the property. With a mix of rental and homeowner units, the Elmwood Manors Condominium have great potential to raise rents to market levels with renovation as units become available. This complex has a mix of rentals and owner occupants, creating a large range of rent prices and opportunity to raise rents.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

11

PRICE/UNIT

$131,818

CAP RATE

7.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Elmwood Manor Condominums

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,751 SF

ZONING

-

APN/PARCEL ID

16-07-423-040-1009

ASK ABOUT THIS PROPERTY

Liam Moore33 RealtyMore Info
847-999-8818

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Liam Moore33 RealtyMore Info
847-999-8818

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