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14613 Karlov & 14639 Keystone 12-units 2 Multifamily Properties Offered at $1,522,950 CAD in Midlothian, IL
INVESTMENT HIGHLIGHTS
- Roofs for both buildings have been replaced in 2023
- This location offers commuters convenient access downtown via the Metra Train Station, Interstate 294, many bus stops nearby
- 5 2bdrs/1.5baths, 5 2bdrs/1baths & 2 1bdrs/1baths
EXECUTIVE SUMMARY
Interra Realty has exclusively listed a 2 building (6-units each), 12-unit portfolio in Midlothian, IL (Southwest Suburbs) at 14613 Karlov Avenue & 14639 Keystone Avenue.
The unit mix comprises of 5 2bdrs/1.5baths, 5 2bdrs/1baths & 2 1bdrs/1baths. The units are heated by hot water baseboard heat and cooled via individual wall A/C units.
Each building has laundry facilities which are operator owned. Roofs for both buildings have been replaced in 2023. Majority of the units are in original condition, if updated – would receive around $1,650 for 2bdr/1.5 baths, 2bdr/1Ba $1,550 and 1bdr at $1,350. My proforma scenario is on an as-is basis.
The buildings are approximately 22 miles South of the downtown Chicago Loop. This location offers commuters convenient access downtown via the Metra Train Station, Interstate 294, and many bus stops nearby.
A new investor has the opportunity to increase rents by 24% in as-is condition at a 13%+ cash on cash return.
Price: $1.1M
Proforma Cap Rate: 9.2%
Price Per Unit : $91K
The unit mix comprises of 5 2bdrs/1.5baths, 5 2bdrs/1baths & 2 1bdrs/1baths. The units are heated by hot water baseboard heat and cooled via individual wall A/C units.
Each building has laundry facilities which are operator owned. Roofs for both buildings have been replaced in 2023. Majority of the units are in original condition, if updated – would receive around $1,650 for 2bdr/1.5 baths, 2bdr/1Ba $1,550 and 1bdr at $1,350. My proforma scenario is on an as-is basis.
The buildings are approximately 22 miles South of the downtown Chicago Loop. This location offers commuters convenient access downtown via the Metra Train Station, Interstate 294, and many bus stops nearby.
A new investor has the opportunity to increase rents by 24% in as-is condition at a 13%+ cash on cash return.
Price: $1.1M
Proforma Cap Rate: 9.2%
Price Per Unit : $91K
PROPERTY FACTS
| Price | $1,522,950 CAD | Number of Properties | 2 |
| Price / SF | $153.83 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.40% | Total Building Size | 9,900 SF |
| Sale Type | Investment | Total Land Area | 0.28 AC |
| Status | Under Contract |
| Price | $1,522,950 CAD |
| Price / SF | $153.83 CAD / SF |
| Cap Rate | 6.40% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 9,900 SF |
| Total Land Area | 0.28 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 14639 Keystone Ave, Midlothian, IL 60445 | Multifamily | 4,984 SF | 1962 | - |
| 14613 Karlov Ave, Midlothian, IL 60445 | Multifamily | 4,916 SF | 1966 | - |
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14613 Karlov & 14639 Keystone 12-units
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