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5155 W Byron St
Chicago, IL 60641
3851-53 N. Laramie | 5155 W. Byron · Multifamily Property For Sale
·
7 Units
Investment Highlights
- Efficient Two-Bedroom Unit Mix
- Prime Portage Park Location Near Six Corners
- Updated Interiors and Tenant Amenities
- Straightforward Value-Add Pathway
Executive Summary
Triton presents 3851-53 N. Laramie Ave. | 5155 W. Byron St., a seven (7) unit multifamily investment opportunity located in Chicago's highly desirable Portage Park
neighborhood. Offered for the first time in nearly four decades, this pride-of-ownership asset has been held by the same owner since July 1988. Throughout its extensive ownership history, the asset has received continuous stewardship and numerous capital improvements, providing a new owner with a path to maximize rents in existing condition.
The classic corner masonry brick building consists entirely of spacious two-bedroom, one-bathroom apartments—featuring one duplex unit and one garden unit. Units are equipped with updated finishes and stainless-steel appliances (select units), radiator heat, window A/C units, coin-operated common area laundry, and three rear garage parking spaces.
Boasting a straightforward utility profile with separately metered electric and cooking gas paid by tenants, the property delivers robust in-place income with a clear value-add pathway to a 7.85% pro forma cap rate by moving below-market rents to market levels. Positioned just blocks from the booming Six Corners intersection, this remarkably maintained property represents a rare, stable, long-term performance opportunity.
neighborhood. Offered for the first time in nearly four decades, this pride-of-ownership asset has been held by the same owner since July 1988. Throughout its extensive ownership history, the asset has received continuous stewardship and numerous capital improvements, providing a new owner with a path to maximize rents in existing condition.
The classic corner masonry brick building consists entirely of spacious two-bedroom, one-bathroom apartments—featuring one duplex unit and one garden unit. Units are equipped with updated finishes and stainless-steel appliances (select units), radiator heat, window A/C units, coin-operated common area laundry, and three rear garage parking spaces.
Boasting a straightforward utility profile with separately metered electric and cooking gas paid by tenants, the property delivers robust in-place income with a clear value-add pathway to a 7.85% pro forma cap rate by moving below-market rents to market levels. Positioned just blocks from the booming Six Corners intersection, this remarkably maintained property represents a rare, stable, long-term performance opportunity.
Property Facts
| Price Per Unit | $253,734 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.71% | Lot Size | 0.08 AC |
| Gross Rent Multiplier | 10.82 | Building Size | 7,050 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 0.43/1,000 SF |
| Zoning | RS-3 | ||
| Price Per Unit | $253,734 CAD |
| Sale Type | Investment |
| Cap Rate | 5.71% |
| Gross Rent Multiplier | 10.82 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 7,050 SF |
| No. Stories | 3 |
| Year Built | 1923 |
| Parking Ratio | 0.43/1,000 SF |
| Zoning | RS-3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Granite Countertops
- Stainless Steel Appliances
- Range
- Tub/Shower
- Den
- Freezer
- Mud Room
- Window Coverings
Site Amenities
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Grill
- Gas Range
- Storage Space
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | 950 - 1,350 |
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