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4401 N Newcastle Ave
Harwood Heights, IL 60706
Multifamily Property For Sale
·
9 Units
Investment Highlights
- This is a rarely available, all brick, corner 9-unit building.
- The building is in an excellent location.
- The building is 100% tenant occupied with long-term tenants; the rents are low.
Executive Summary
This is a rarely available, all brick, 9-unit corner building in a prime Harwood Heights location! There are seven (7) one-bedroom, one-bathroom units and two (2) two-bedroom, two-bathroom units. All tenants are on a month-to-month basis and all tenants have resided in their respective units for many years. The rents are low. The market can easily absorb higher rents. Presently, this building generates $99,900 in gross rental income. Going forward, this building can easily generate $170,400 in gross rental income based on the following market rents: three (3) garden units at $1,400 per month, four (4) one-bedroom units at $1,600 per unit and two (2) two-bedroom units at $1,800 per unit. Every unit has a functional floor plan but, more importantly, the building and units have a great vibe. You will love it. The common area also features a coin-operated washer and dryer system, and the private parking lot offers the perfect amount of tenant convenience. This highly desirable multi-unit complex is minutes to the Kennedy Expressway, Harlem and Irving Plaza, O'Hare Airport, restaurants, bus stops, Blue Line, Norridge Park as well as highly rated Union Ridge Elementary School and Ridgewood High School! This building and the area is a: gem! A 10!
Property Facts
| Price Per Unit | $243,143 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.18% | Building Size | 5,624 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1969 |
| Apartment Style | Low-Rise | Parking Ratio | 1.42/1,000 SF |
| Zoning | Harwood Heights | ||
| Price Per Unit | $243,143 CAD |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 5,624 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 1.42/1,000 SF |
| Zoning | Harwood Heights |
Amenities
- Smoke Detector
Unit Amenities
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Views
- Breakfast Nook
- Lawn
- Smoke Free
- Large Bedrooms
Site Amenities
- Laundry Facilities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | $2,462 CAD | - |
| 1+1 | 2 | $2,052 CAD | - |
Property Taxes
| Parcel Number | 13-18-119-026-0000 | Improvements Assessment | $96,938 CAD |
| Land Assessment | $17,947 CAD | Total Assessment | $114,885 CAD |
Property Taxes
Parcel Number
13-18-119-026-0000
Land Assessment
$17,947 CAD
Improvements Assessment
$96,938 CAD
Total Assessment
$114,885 CAD
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