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Key Details
Sold Price $710,000
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 10743033
Sold Date 10/02/20
Maintenance Fees $2,000
Year Built 1920
Annual Tax Amount $7,361
Tax Year 2018
Lot Dimensions 48' X 125'
Property Description
* 7.43% In-Place Cap Rate * Gross Income (w/ 5% vacancy) - $85,448 * NOI - $55,694 Kiser Group is pleased to exclusively present for purchase 1528 N. Avers, a beautiful six (6) unit walk-up building located in one of Chicago's most rapidly growing neighborhoods, Humboldt Park. The property sits on a quiet, tree lined street just one block away from the North and Springfield bus stop and within walking distance from Chicago's 606 Trail. 1528 N. Avers is comprised of two (2) 2b/1ba, three (3) 3b/2ba, and one (1) 4b/2ba spacious units, all containing hardwood flooring throughout. The property went through an extensive renovation in 2015, with improvements including updated kitchens/baths, new electrical service, a new porch, individual furnaces & water heaters, as well as 100% copper plumbing. 1528 N. Avers presents an investor with a unique opportunity to acquire a strong, stabilized cash flowing asset with an in-place cap rate of 7.43% from day one. Additionally, through improved leasing and management current rental rates could be raised to market rate levels allowing a new investor can realize a cap rate of 9.69% as well as cash returns of over 20%.
Location
State IL
County Cook
Area Chi - Humboldt Park
Interior
Fireplace N
Building
Level or Stories 2
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Bought with Zachary Rudzki • Redden+McDaniel