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4131 S Michigan Ave 6 Unit Apartment Building $1,172,679 CAD ($195,446 CAD/Unit) 8.60% Cap Rate Chicago, IL 60653
Investment Highlights
- Property has a strong history of high occupancy and collections
- Within walking distance to the Sox-35th Redline stop
- [1] 1-Bed/1-Bath [5] 2-Bed/1-Bath
- Current cap rate of 8.0%, projected to increase to 8.7% on a stabilized basis
- Current rents below market with potential to increase to $1,375 for 1-bedroom units and $1,700 for 2-bedroom units
- The property is fully occupied, showcasing strong rental demand in the area
Executive Summary
Nara Advisors is pleased to exclusively market for sale 4131 S Michigan Ave, a 6-unit apartment building located in Chicago's Bronzeville neighborhood
Property Facts
| Price | $1,172,679 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $195,446 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 8.60% | Building Size | 7,934 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1887/2015 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM-5 - Medium to high-density apartment buildings | ||
| Price | $1,172,679 CAD |
| Price Per Unit | $195,446 CAD |
| Sale Type | Investment |
| Cap Rate | 8.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,934 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1887/2015 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 - Medium to high-density apartment buildings |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (76)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 20-03-114-005-0000 | Improvements Assessment | $64,963 CAD |
| Land Assessment | $38,006 CAD | Total Assessment | $102,969 CAD |
Property Taxes
Parcel Number
20-03-114-005-0000
Land Assessment
$38,006 CAD
Improvements Assessment
$64,963 CAD
Total Assessment
$102,969 CAD
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4131 S Michigan Ave
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