Rehabbed Apartment Building With VERY Strong Cash Flow

[Melsi Bifsha]

Price:	$1,100,000
Number of Units:	15
Building Size:	6,500 SF
Property Type:	Multifamily
Total Lot Size:	6,400 SF
Year Built:	1926
Cap Rate:	11.32%
NOI:	$124,472

Highlights

• 15 Apts and 2 Adjacent Lots in North Lawndale!
• 11% Cap Rate!
• (4) 3BD 1BA, (9) 2BD 1BA (1) Garden Studio and (1) Garden 2BD
• Building Rehabbed in 2017. New Electrical, Separate Heat, Cabinets, Bathrooms and much more...

Description

Rarely available, investment property on Karlov Avenue featuring 13 Apartments with 2 additional Garden Units and 2 ADJACENT LOTS that will include 30 parking spots! Strong unit mix with good cash flow and plenty of room for upside. Property is being sold at a true 11 cap.

Location

North Lawndale is a neighborhood located on the west side of Chicago. From a hub of industry to a base for the northern civil rights movement, North Lawndale is a culturally rich neighborhood with unique architectural character and historic significance. Located on the west side of the City of Chicago, North Lawndale is less than three miles from Chicago's Loop. Wide boulevards and long blocks, remnants of concentrated industrial development, speak to the neighborhood's history as a thriving manufacturing and residential center. While North Lawndale's more recent past has been one of population loss and disinvestment, the community's proximity to the Loop, University of Illinois at Chicago, and the Illinois Medical District bolster its potential as a desirable location for residential and commercial investment.