5055 W Wrightwood Ave - Apartments FOR SALE


Chicago, IL 60639
$1,475,000 USD
773-293-5015
5055 W Wrightwood Ave, Chicago, IL for Sale
$1,475,000 USD
Apartments - FOR SALE
1/7
null | 7.39% Cap Rate

5055 W Wrightwood Ave
Chicago, IL 60639


HIGHLIGHTS

  • Upgraded 12-Unit in Belmont Cragin
  • (4) 2bd/1ba (6) 1bd/1ba & (2) Studios
  • Updated Kitchens & Baths
  • Separate HVAC, Copper Plumbing, 1200 AMP Electrical Main, Steel Porches
  • Current Rents 10% Below Market

OVERVIEW

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%.

FOR SALE DETAILS

PRICE

$1,475,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

12

PRICE/UNIT

$122,917

CAP RATE

7.39%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,667 SF

ZONING

RS-3

APN/PARCEL ID

13-28-417-001-0000

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.