6229 N Richmond St - Apartments FOR SALE


Chicago, IL 60659
$3,050,000 USD
312-423-7934
6229 N Richmond St, Chicago, IL for Sale
$3,050,000 USD
Apartments - FOR SALE
1/20
null | 5.55% Cap Rate

6229 N Richmond St
Chicago, IL 60659


HIGHLIGHTS

  • Parking: 8 spaces
  • Unit Quality: All units are extra-large and built to condo quality, with 4 duplexes
  • Expenses: Very low, maximizing cash flow
  • The property is approved for deconversion during the 2024-2025 period, leading to a reduction in property taxes
  • Cozy fireplaces and beautiful hardwood floors in living areas
  • Luxurious bathrooms with double vanities; Modern kitchens with sleek cabinetry and new stainless steel appliances

OVERVIEW

6229 N Richmond St. We have finalized the acquisition of all units in the building, which includes 8 units with 8 parking spaces. All units are extra-large and condo quality, with 4 duplexes. The units rent for well over $2,300 and have very low expenses, making this property a cash cow. Configuration: 4 units with 3 bedrooms and 2 bathrooms, each 1,610 sq. ft., and 4 units with 3 bedrooms and 2.5 bathrooms, each 1,610 sq. ft. Additional features include modern kitchens with sleek cabinetry and new stainless steel appliances, cozy fireplaces, beautiful hardwood floors in the living areas, luxurious bathrooms with double vanities, balconies for outdoor relaxation, and warm, inviting lighting fixtures that create a welcoming ambiance. Deconversion has been approved for the 2024-2025 period, leading to a reduction in property taxes.

FOR SALE DETAILS

PRICE

$3,050,000 USD

PRICE/SF

$373 USD /SF

# OF UNITS

8

PRICE/UNIT

$381,250

CAP RATE

5.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2008

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,079 SF

ZONING

RT-4

APN/PARCEL ID

13-01-113-045-1003

ASK ABOUT THIS PROPERTY

Anastasia LytvynUniconte LLCMore Info
312-423-7934

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Anastasia LytvynUniconte LLCMore Info
312-423-7934

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