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156-158 N Central Ave 33 Unit Apartment Building $1,884,492 CAD ($57,106 CAD/Unit) 10.37% Cap Rate Chicago, IL 60644
INVESTMENT HIGHLIGHTS
- Unit Mix: Twenty-Five (25) 0bd/1ba and Eight (8) 1bd/1ba Units
- 13% Pro-Forma Cap Rate
- On-Site Laundry
- 9.66% In-Place Cap Rate
- Two (2) Blocks from Green Line "EL" station at Central
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively offer for purchase the sale of 158 N. Central, a Thirty-Three (33) unit walkup located in Chicago’s historic Austin neighborhood. The property sits just two (2) blocks away from Chicago's Green Line "El" train station at Central, which provides tenants direct transportation to and from Chicago's downtown.
158 N. Central is comprised of Twenty-Five (25) 0bd/1ba units and Eight (8) 1bd/1ba units. Roughly half of the units, have been renovated and equipped with updated kitchens and baths. Furthermore, the building features newer windows, updated masonry, on-site laundry, and two (2) 100 gallon water heaters.
158 N. Central provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago’s desirable pocket of Austin. From day one, a new owner will capitalize on an incredibly strong and long term tenant base, and will realize an in place cap rate of 10.4% and a cash return of 18.7%. Through improved leasing, management, and raising rents to market rate, an investor has the opportunity achieve a cap rate over 14% and a cash return of nearly 34%.
158 N. Central is comprised of Twenty-Five (25) 0bd/1ba units and Eight (8) 1bd/1ba units. Roughly half of the units, have been renovated and equipped with updated kitchens and baths. Furthermore, the building features newer windows, updated masonry, on-site laundry, and two (2) 100 gallon water heaters.
158 N. Central provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago’s desirable pocket of Austin. From day one, a new owner will capitalize on an incredibly strong and long term tenant base, and will realize an in place cap rate of 10.4% and a cash return of 18.7%. Through improved leasing, management, and raising rents to market rate, an investor has the opportunity achieve a cap rate over 14% and a cash return of nearly 34%.
PROPERTY FACTS Under Contract
| Price | $1,884,492 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $57,106 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 10.37% | Building Size | 27,133 SF |
| No. Units | 33 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | RT-4 | ||
| Price | $1,884,492 CAD |
| Price Per Unit | $57,106 CAD |
| Sale Type | Investment |
| Cap Rate | 10.37% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 27,133 SF |
| No. Stories | 4 |
| Year Built | 1926 |
| Zoning | RT-4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 800 |
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 16-08-417-015-0000 | Improvements Assessment | $256,877 CAD |
| Land Assessment | $14,908 CAD | Total Assessment | $271,786 CAD |
PROPERTY TAXES
Parcel Number
16-08-417-015-0000
Land Assessment
$14,908 CAD
Improvements Assessment
$256,877 CAD
Total Assessment
$271,786 CAD
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156-158 N Central Ave
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