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2435 S California Ave 6 Unit Apartment Building $1,505,603 CAD ($250,934 CAD/Unit) 7% Cap Rate Chicago, IL 60608
Investment Highlights
- Approved for 2 additional units
- In unit laundry
- Corner lot
- Central A/C
Executive Summary
Large brick 6-unit overlooking California Boulevard. In place 7% CAP rate with rental upside. Plus potential to add 2 more garden units with existing city approved plans conveyed in price. Great corner building with 3 full floor units, plus a coach house with 3 additional units. The property was gut renovated in 2017 and still has a great value add opportunity through bringing rents to market. The modern units feature granite, hardwood, central forced air HVAC, dishwashers, in-unit W/D and spacious bedrooms and bathrooms. Long time professional property management is willing to stay in place making this a true turn key investment in a rapidly appreciating sub market.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$156,364
|
$25.12
|
| Other Income |
$2,737
|
$0.44
|
| Vacancy Loss |
$7,818
|
$1.26
|
| Effective Gross Income |
$151,283
|
$24.30
|
| Taxes |
$19,392
|
$3.12
|
| Operating Expenses |
$31,659
|
$5.09
|
| Total Expenses |
$51,051
|
$8.20
|
| Net Operating Income |
$100,232
|
$16.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $156,364 |
| Annual Per SF | $25.12 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,737 |
| Annual Per SF | $0.44 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,818 |
| Annual Per SF | $1.26 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $151,283 |
| Annual Per SF | $24.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,392 |
| Annual Per SF | $3.12 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $31,659 |
| Annual Per SF | $5.09 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $51,051 |
| Annual Per SF | $8.20 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $100,232 |
| Annual Per SF | $16.10 |
Property Facts
| Price | $1,505,603 CAD | Apartment Style | Garden |
| Price Per Unit | $250,934 CAD | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 6,225 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.3 | No. Stories | 3 |
| No. Units | 6 | Year Built/Renovated | 1904/2017 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | RT-4 | ||
| Price | $1,505,603 CAD |
| Price Per Unit | $250,934 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 10.3 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.07 AC |
| Building Size | 6,225 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1904/2017 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Porch
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,636 CAD | 600 |
| 2+1 | 1 | $1,971 CAD | 920 |
| 3+2 | 4 | $2,666 CAD | 1,050 - 1,200 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 16-25-217-001-0000 | Total Assessment | $96,686 CAD |
| Land Assessment | $5,786 CAD | Annual Taxes | $19,392 CAD ($3.12 CAD/SF) |
| Improvements Assessment | $90,901 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
16-25-217-001-0000
Land Assessment
$5,786 CAD
Improvements Assessment
$90,901 CAD
Total Assessment
$96,686 CAD
Annual Taxes
$19,392 CAD ($3.12 CAD/SF)
Tax Year
2025
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2435 S California Ave
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