Listed by SVN Chicago Commercial
$3,395,000
North Austin 34 - Unit Multifamily
Details
APN 13-33-423-040-0000, 13-33-423-041-0000
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Storefront
Square Footage 27,450
Units 34
Cap Rate 7.50%
NOI $273,685
Occupancy 95%
Tenancy Multi
Pro-Forma Cap Rate 9.59%
Pro-Forma NOI $325,533
Price per SqFt $124
Broker Co-Op Yes
Year Built 1928
Buildings 2
Acreage 0.250
Zoning C2-1
Ground Lease No
North Austin 34 - Unit Multifamily
Marketing description
Property Description
SVN is pleased to present a 34-unit Multifamily building located on the border of North Austin and Belmont Cragin. The property is steps away from strong retail centers. The unit mix consists of (2) Commercial Spaces, (6) studios, and (18) 1 Bedroom 1 Bath, (8) 2 Bedroom 1 Bath Apartments. Majority of units have been newly remodeled with updated kitchens and baths and new appliances. 4850 W North Ave is equipped with (2) newer boilers, (2) 200-gallon water tanks, newer electrical, newer porches, newer roof, high-quality interior and exterior camera system, LED exterior lighting and lastly (4) Washers & (4) dryers. The building is in very strong condition and well-maintained and managed.
Location Description
North Austin / Belmont Cragin
Investment highlights
- Strong Location
- Renovated Units
- Extensive Capital Improvements
Listing Contacts
Listed by SVN Chicago Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$273,685.00
$22,807.08/mo
Valuation Metrics
0
DSCR
8.06%
Cap Rate
8.06%
ROI
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