Kiser Group is exclusively marketing for sale 5055 W. Wrightwood, an updated 12-unit walk up building situated in the vibrant Belmont Cragin neighborhood of Chicago.
This property offers a diverse unit mix, including (2) studio units, (6) 1bd/1ba units, and (4) 2bd/1ba units. All the units have newly updated kitchens & baths. Recent capital improvements consist of separate HVAC systems for each unit, newer vinyl windows, copper plumbing, steel porches, and 1200 AMPS electrical service. Additionally, there is one exterior parking space in the back.
5055 W. Wrightwood presents an investor with a unique opportunity to acquire an already cash-flowing asset with an in-place cap rate of over 7.0% from day one. Additionally, through improved leasing, management, and raising rents 10% to market levels, a new investor can realize a cap rate of 7.35% and cash returns of over 8.4%.